Hyundai India to launch electric vehicles in 2019

Hyundai will invest over $1 billion in India over the next 3 years. The carmaker has announced that it is planning to roll out its first electric car a year before Maruti Suzuki launches its EV in 2020. Hyundai's first EV in India will be a Kona electric SUV which is set to debut in 2019. It will be imported as a completely knocked down (CKD) unit.

Besides the Kona, Hyundai will also be evaluating the possibility of an electric version of the Xcent compact sedan. The company is also considering the Ioniq mid-size sedan for India. In global markets, the Ioniq comes in hybrid, plug-in hybrid and all-electric versions and Hyundai hasn't confirmed which versions will be brought to India. Apart from this, Hyundai is planning to launch 9 models, including upgrades in the coming years.

Mr. Y K Koo, MD & CEO, Hyundai India mentioned that the government needs to setup a road map for establishing charging infrastructure in the country. He also believes that the government should bring down the duty on EVs. At present, EVs are placed in the lowest tax bracket of 12%. He also added that the government should also promote hybrid vehicles.

Source: The Economic Times

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