(ET)
Hyundai Motor India will invest ₹4,000 crore to launch half a dozen electric vehicles (EV) by 2028 in a series of targeted product interventions, underscoring increasing consumer preference in the country for mobility solutions of the future. The first of these products, eventually covering both mass and premium segments, will hit Indian roads as early as next year. Hyundai Motor India managing director SS Kim told ET that high-speed electrification of the automotive sector has become a reality, with the share of EVs rising to as high as a fifth of the total in several markets.
“I think India might be having the same situation in the near future,” said Kim. “Our six battery EVs will cover various segments. Our future electric vehicle business should outperform… existing performance in the general (internal combustion engine) market.”
