After receiving a highly positive response for its first pure electric car, Kona, Hyundai Motor India may look to speed up the process of launching locally-made electric cars for the mass market within three years, says a report on Money Control. Hyundai launched the locally assembled Kona electric SUV in July 2019 that recorded over 120 bookings in 10 days. Bookings for Kona crossed 300 in September and the car was declared sold-out for 2019. Earlier priced at Rs. 25.30 lakhs and then reduced to Rs. 23.71 lakhs (ex-showroom), the Hyundai Kona is available through 15 dealerships in 11 cities across India.
The Kona Electric is available with a 3 years/unlimited km warranty, along with a 8 years/160,000 km warranty for its battery which convinced many buyers to opt for it.
According to the report, Hyundai is expected to pump around $200 million (Rs. 1,430 crore) into the development of a new EV platform that will spawn an affordable electric car to be priced under Rs.10 lakh.
In its “Strategy 2025” released a few weeks ago, Hyundai stated that it looks to go electric for most of its models in India by 2035. Hyundai has also made India its regional headquarters and will make smart electric vehicles for emerging markets. The company is looking to expand production capacity in India to include these members and is looking to launch up to three smart electric vehicles in India. The starting lineup could surely include an electric SUV, considering the current trend in body styles.
Tata Motors will bring out the electric Nexon in January 2020 priced under Rs. 17 lakh with electrified versions of the improved Tigor and Altroz lined up for launch by the end of 2020. Maruti Suzuki will also be launching its locally manufactured EV, a Wagon R-based electric model, in 2021 through its partnership with Toyota Kirloskar Motor. Mahindra-Ford will deliver a sedan to be sold by each of the brands, whereas Mahindra has 4 electric vehicles in the plan for the first half of the decade. With the two biggest players Hyundai and Maruti Suzuki heading into the EV marketplace, it will surely give the segment a much-needed jump start.
[Source – MoneyControl.com]