Filed with SEBI for IPO Documents According to, Hyundai wants to maximize the price competitiveness of its electric vehicle models and intends to focus on securing local production capabilities for key parts such as cells, battery packs, power electronics and drivetrains and building a local EV supply chain. In the draft red herring prospectus (DRHP), HMIL said it will step up its EV strategy in line with the market demands in India by launching an EV model within each price segment.
In line with this policy, Hyundai plans to launch four EVs in India. The company has confirmed that the Hyundai Creta EV will be launched in the last quarter of FY 2025. Currently, HMIL sells two EV models in India – IONIQ5 and Kona Electric – priced at Rs 45 lakh and Rs 24 lakh, respectively.
Apart from this, Hyundai Motor India is planning to localize the EV supply chain in collaboration with both local and global EV power electronic vendors, to secure the Production-Linked Incentive (PLI) subsidy. The company’s focus in the future will also be on increasing charging stations. In the document, the company has said that “Our goal is to develop EV infrastructure in India by building charging stations. As of March 31, 2024, we have installed 11 fast charging stations in India. We want to support the adoption of EVs by installing charging.”
Let us tell you that last week, HMIL filed preliminary documents with SEBI to launch an IPO. If listed, it will be India’s largest IPO. Currently this title is held by LIC, whose IPO size was Rs 21,000 crore.
Apart from this, let us tell you that South Korean carmaker Hyundai is preparing to enter the compact electric SUV market with the Inster EV, which will be introduced at the Busan International Motor Show later this month. The carmaker has released a teaser photo of this SUV on its social media account. The design of the Inster EV resembles the current Hyundai Casper micro-SUV. It has round headlights and modern pixelated LED daytime running lights that also work as turn indicators.