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Old 10th July 2019, 17:20   #1
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Default Hyundai to invest Rs. 1,400 Cr to develop EVs for India

According to a media report, Hyundai is planning to invest Rs. 1,400 crore to develop affordable electric vehicles (EVs) for the Indian market. This investment is expected to be made over the next 3 years.

Hyundai to invest Rs. 1,400 Cr to develop EVs for India-kona-ev.jpg

The report states that Hyundai is planning to develop a new electric vehicle architecture for the Indian market. The company could export electric vehicles to emerging markets in the future. The carmaker has started studying the requirements of private buyers with respect to range and pricing.

The report also states that Hyundai could setup a lithium-ion battery manufacturing unit in the next 2-3 years. The company is currently in the process of evaluating the same.

Source: Economic Times

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Old 10th July 2019, 19:45   #2
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Default Re: Hyundai to invest Rs. 1,400 Cr to develop EVs for India

If Hyundai take the lead in EVs and Hybrids in India they could, they just could, leave Maruti behind and take the number 1 spot in 10 years. While I have never owned a Hyundai I admire this company's ability to take a long view and realize that the worlds 3rd largest car market (soon to be) needs its own designs to meet its own needs. When technology undergoes a fundamental change erstwhile market leaders almost always get toppled - IBM giving way to Dell & Apple as the change from mainframes to PCs and laptops came; Douglas Airplanes giving way to Boeing as the almost overnight transition from piston engined airliners to jet airliners took place; desktop phone makers yielding to cellphone manufacturers etc.

We the driving public have not quite grasped at how much change the next decade will bring and how fast it will happen.
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Old 10th July 2019, 20:25   #3
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Default Re: Hyundai to invest Rs. 1,400 Cr to develop EVs for India

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Originally Posted by V.Narayan View Post
If Hyundai take the lead in EVs and Hybrids in India they could, they just could, leave Maruti behind and take the number 1 spot in 10 years.
I totally agree with this. EVs provide the best opportunity for other companies to dislodge virtual monopoly of Maruti. Hyundai/Kia are able to create some of the most efficient EVs in the world with existing ICE platforms. They are also developing a dedicated EV platform. With new EV platform mentioned in the article for emerging markets and the dedicated global EV platform they can cover the all the segments.

EVs definitely break the Maruti's stronghold on Indian market. If its not done by Hyundai/Kia duo, it will be done by Chinese companies like MG motors (SAIC). I really wish the other Chinese biggies like BYD, Great Wall Motors, Geely enter India as early as possible to bring the much needed competition.
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Old 10th July 2019, 21:52   #4
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Default Re: Hyundai to invest Rs. 1,400 Cr to develop EVs for India

Suzuki has the least experience in EV, while it's partner Toyota is more into hybrids.

For battery, Toyota has panasonic although not for India and suzuki has Toshiba for Indian market.
Maruti has already invested 1200+ crore for it's battery plant, a joint venture between Toshiba, Denso and Maruti. It will be operational next year.

So while Hyundai Kona is a world class product in terms of efficiency and tech, Hyundai is playing catch up with maruti for the mass market low priced EV.

I do hope Hyundai investment for EV in India includes local battery production vs assembling battery cells.

But this a perfect chance for Hyundai to topple Maruti.
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Old 10th July 2019, 23:32   #5
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Default Re: Hyundai to invest Rs. 1,400 Cr to develop EVs for India

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Originally Posted by V.Narayan View Post
We the driving public have not quite grasped at how much change the next decade will bring and how fast it will happen.
I agree. One aspect of EV adoption is the ability charge the EV at home during off peak hours. Even better, when one can charge at home for free (using solar). It is very convenient to have a EV that has been topped off every morning. It does save on some time and effort that is needed to make a run to the gas station. The utilities and the Govt. need to get on top of this aspect and drive the EV adoption. Also, new homes need the switch boxes and circuitry needed to draw the huge amounts of current draw that is needed by the EVs. In the US, single family homes built in the 80s and 90s are 100A homes. The new homes built in the last 10 years, allow 200A. It is not regulation, but the builders foreseeing the change that is coming, and being ready for Solar and EVs.

Last edited by GutsyGibbon : 10th July 2019 at 23:37.
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Old 11th July 2019, 08:07   #6
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Default Re: Hyundai to invest Rs. 1,400 Cr to develop EVs for India

Rs 1,400 crore is nothing when you consider that the development of any brand new diesel engine costs the manufacturer & its suppliers 500 - 1,000 crores. What works in Hyundai's favour is the access to technology from its global HQ which is heavily investing in EVs. This 1,400 crore will be for merely tweaking & localising that tech for India.
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Old 11th July 2019, 10:48   #7
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Default Re: Hyundai to invest Rs. 1,400 Cr to develop EVs for India

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Originally Posted by GTO View Post
Rs 1,400 crore is nothing when you consider that the development of any brand new diesel engine costs the manufacturer & its suppliers 500 - 1,000 crores. What works in Hyundai's favour is the access to technology from its global HQ which is heavily investing in EVs. This 1,400 crore will be for merely tweaking & localising that tech for India.
The same advantage (global HQ investing EVs) is there for the likes of VW/Skoda, Renault, Nissan, etc... VW group is investing more than any other traditional company in EVs. They are developing multiple EVs across different segments which will provide them a great chance to differentiate and succeed against Maruti, Hyundai. But their "India 2.0" plan which entails 1 billion euros (Rs 7,700 crores) investment between 2019-21, does not have a single electric model.

I worry about Maruti/Hyundai's stronghold on Indian car market resulting in less competition, choices, etc... but they are well deserved to get that stronghold as they are the ones who really bother about the Indian market.
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Old 17th July 2019, 13:41   #8
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Default Re: Hyundai to invest Rs. 1,400 Cr to develop EVs for India

More details on Hyundai's affordable EV for India

Earlier this month, it was reported that Hyundai was planning to develop a new electric vehicle (EV) architecture for the Indian market. More details of the new EV have now emerged online.

Hyundai to invest Rs. 1,400 Cr to develop EVs for India-konaev.jpg

According to media reports, Hyundai's new EV is likely to be manufactured at its Chennai plant. It could be a mini SUV or a premium hatchback. The carmaker also plans to export it to Middle East, Latin America, Africa and Asian markets.

Last week, Hyundai launched its first EV called the Kona Electric in the Indian market. It is priced at Rs. 25.30 lakh (ex-showroom, Delhi). The report also states that the company is now aiming to have a mass-volume electric model in its portfolio, which could be priced around Rs. 10 lakh.

Hyundai is also planning to setup a lithium-ion battery manufacturing plant in India.

Source: Economic Times

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Old 17th July 2019, 14:55   #9
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Default Re: Hyundai to invest Rs. 1,400 Cr to develop EVs for India

Hyundai is really upping the ante in the EV segment I should say ! They have all it takes to bring out an EV in the busiest segment of the Indian automobile market ( < 15 L ). Adding to that, the initial lot of Konas for India should give them enough feedback on real world performance and customer's expectation from EVs to bake it into the new product offering.
Slightly OT, what were Mahindra doing with the E2O all these years ? They had all the time, resources and the first movers advantage to have developed the right product by now. Instead they are stuck with the E2O and Verito electric for ages with no real innovation/ improvement in the performance(Range, Fast charging)
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Old 30th January 2020, 21:21   #10
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Default Hyundai Motor developing mass market electric vehicle: S S Kim

The company has claimed Kona electric delivers a range of 452 km in a single charge under standard testing conditions. Globally, the company has sold over 15,000 units in markets like Canada, USA, Europe, Russia, Korea and Australia.
Quote:
Chennai: Korean auto-maker Hyundai Motor India is in the process of developing an electric vehicle in the next two-three years to serve the mass market, a top official of the company has said. On Thursday, the auto major rolled out its three millionth 'Made in India' car being shipped to overseas market from its manufacturing unit at Sriperumbudur near here.

After formally signing on the bonnet of the three millionth car which was unveiled at the facility, Hyundai Motor India's managing director S S Kim said the company was developing a mass market electric vehicle for India.

"That will be introduced in two - three years. In terms of price it will be affordable", he told reporters without being specific on the price. Hyundai Motor India had, in 2019, introduced the electric vehicle 'Kona' priced at around Rs 25 lakh.
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