A media Report According to, Hyundai has removed Kona Electric from its website. It was not updated since its launch. Its sales were also weak and the main reason for this was its old design. Hyundai has said that it will launch its new electric vehicle early next year. This will be the electric version of Creta. The company plans to launch four EVs in the country. EV sales have increased rapidly in the last few years. This information is in the documents submitted by Hyundai to market regulator SEBI to raise funds through Initial Public Offer (IPO).
The company plans to create a local supply chain for critical components of EVs. Hyundai has leased a portion of its manufacturing plant near Chennai in Tamil Nadu to Hyundai Motor Group firm Mobis for assembling EV batteries. This will reduce Hyundai’s cost on import of battery packs.
Hyundai plans to launch hybrid cars in India by 2026. South Korea’s Hyundai Motor Group has changed its strategy and started exploring possibilities other than electric vehicles (EV). Hyundai Motor Group includes Hyundai Motor and Kia. Both these automobile companies sell petrol and diesel cars in the country as well as imported EVs like IONIQ 5 and EV6. They plan to launch their first Made in India EV in 2025. It is also considering bringing a hybrid sports utility vehicle of the same size as its best-selling mid-size Creta SUV in India. Hyundai and Kia target to launch hybrid SUVs in 2026 or 2027. Along with this, the plans of these companies regarding EV are also intact.
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