Hyundai and Kia to debut their first made-in-India EVs by 2025
Both Hyundai and Kia will launch five electric models by 2030, expanding capacity and utilizing batteries from Exide Energy Solutions.
Hyundai, a South Korea-based automobile company is all set to launch its first Indian-manufactured electric vehicle (EV)by next year. Hyundai and Kia are looking forward to boosting their presence in the emerging sector of EVs dominated by Tata Motors.
The production of Hyundai’s EVs in India will start by the end of this year and will be launched by 2025 accompanying Kia’s EVs, said the Hyundai motor group on Thursday. Five models will be unveiled by 2030 they added.
Hyundai (India’s no.2 carmaker) has its biggest market in India outside North America and Europe. The company currently has two EVs in the Indian market the Kona and IONIQ 5 (both of them are not produced in India), while Kia has a single EV in the Indian market EV6.
Hyundai also reasserted its target of 1 million annual production by 2025, expanding capacity at Kia to 432,000 from about 300,000, giving them a combined capacity of 1.5 million units. Hyundai has previously closed a deal with the Chevrolet plant in western Maharashtra as a part of its target.
Both Hyundai and Kia have previously mentioned that they will use the batteries of Exide energy solutions to power their EVs.
The announcements were made during Hyundai Motor Group Executive Chair Euisun Chung’s visit to India.
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