Hyundai Affordable Electric Car Development Work Begins

Hyundai India plans to expand its electric vehicle (EV) product portfolio in the coming years. The company has already confirmed that it will introduce 6 new battery electric cars in India by 2028. The range includes hatchbacks and SUVs for the mass market. The South Korean automaker has earmarked an investment of Rs 4,000 crore for its EV project. The Hyundai Ioniq 5 electric crossover will be the first model under this strategy and will compete against the newly launched Kia EV6. The model will hit the market in the second half of 2022.

The company has also started development of its new small electric car that will target the mass market. It is likely an affordable EV from Hyundai, as the company plans to achieve a high level of localization. To keep manufacturing costs under control, the automaker will source and manufacture parts locally. The information comes from Tarun Garg, Director Sales, Marketing and Service of Hyundai India. He also revealed that Hyundai’s new electric car will be launched “at the right price” and on time.

New electric car from Hyundai

Currently, Hyundai has been working on various aspects for its upcoming EV, from charging ecosystems, sales network, to the assembly and manufacturing process. According to the official statement, Hyundai’s new affordable electric car will arrive when the charging ecosystem is ready. If the reports are to be believed, the new Hyundai EV will be a small SUV that will be priced below Rs 10 lakh. It can give a range of about 200 km.

Talking about the upcoming Hyundai Ioniq 5, the electric crossover is built on the E-GMP platform with a modular battery system. It provides a low center of gravity. Here, the Ioniq 5 will be imported via the CBU route and placed as Hyundai’s flagship EV. The electric crossover is offered with a single motor and a dual motor configuration and two battery packs – 72.6 kWh and 58 kWh.

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Development work for affordable electric cars begins




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