In a bid to move beyond electric vehicles and mark its strong presence in the automobile industry in the country, India’s second-largest carmaker, Hyundai, is planning to launch its first hybrid car in India by 2026.
The tech giant is reportedly evaluating a hybrid sport-utility vehicle of a size similar to its mid-sized Creta SUV in India, according to a report in Reuters.
The group, housing Hyundai Motor (005380.KS) and Kia Corp. (000270.KS), is targeting to roll out its hybrid SUVs in 2026 or 2027. The media agency further stated that the carmaker’s EV plans for India are also on track.
During a conversation with the news agency, Hyundai Motor Group told Reuters that it is committed to a future of electrified mobility and will optimise product strategies for each market.
The pivot to hybrids comes as Hyundai sees a surge in sales of the technology in India, its third biggest revenue generator after the United States and South Korea. This prompted the carmaker to shift away from its initial strategy, which focused only on battery-driven electric vehicles.
Recently, Hyundai and Kia only sell petrol and diesel cars and import EVs such as the IONIQ 5 and EV6, respectively. But now they are working to launch their first India-made EVs, the world’s third-largest car market, in 2025.
A source told the news agency, “Until EV sales pick up pace, Hyundai wants to get dibs on India’s hybrid market. It has now begun work on tailoring that technology for cars in India to make it mainstream.”
These hybrid cars will allow Hyundai to better compete with rival Maruti Suzuki, which sells such models in collaboration with Toyota and plans more affordable launches with technology from parent Suzuki Motor.
Moreover, Hyundai is doubling down on the South Asian nation and is planning a $3 billion IPO after scaling back production in China and selling its two Russian plants.
Meanwhile, Hyundai is gearing up to launch its first locally produced electric vehicle based on the Creta in less than a year. In addition to that, a mass-market EV is in the pipeline and is set to be launched by 2026-2027.
The South Korean auto group has also teamed up with Indian battery manufacturer Exide Industries to localise battery cells to ensure affordability.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
