Hyundai India To Offer 6 Electric Vehicles By 2028, To Invest Approximately Rs 4,000 Crore

• Hyundai will offer six all-electric vehicles (including Kona) in India by 2028.
• It will offer BEVs on modified platforms and on the E-GMP (Electric Global Modular) platform in India.
• Will offer a range of mass market and premium EVs, with varying levels of localisation.
• Sedan and SUV body types are also in the pipeline.
• Dedicated EV platform will allow better packaging and handling of the vehicle.
• Hyundai expects a 53 percent surge in EV sales by 2028.

Hyundai’s India electrification journey began with the Kona Electric, the first long-range electric SUV in the market. The slightly pricier sticker could be the reason for its lukewarm reception despite it being a capable model. However, the Korean carmaker is set to move on to the next stage as it will launch at least five all-electric models by 2028.  

This has been made possible thanks to EVs based on modified platforms and the introduction of the E-GMP (Electric Global Modular) platform in India. Hyundai will go on to spawn India-specific models to cater to the mass market segments as well. All in all, this modular platform allows for various sizes and body types such as compacts, sedans, and even SUVs. The manufacturer will capitalise approximately Rs 4,000 crore for its electrification journey in India, including the development of supporting infrastructure as well.  

To delve deeper into the technical aspects, the E-GMP will support battery packs up to 77.4kWh, resulting in a WLTP-claimed range of up to 500km. The placement of the battery should also aid handling thanks to lower centre of gravity. Then there’s the fact that it can support both single motor and dual motor options. And when it comes to performance, Hyundai claims models built on the E-GMP will be capable of doing up to 260kmph.  

A dedicated EV platform will also bring immense practicality with the vehicle as it allows for smarter packaging. So the EV will have a flat floor, a glove draw (instead of a glove box), and a sliding second row. All of these traits are found in the iONIQ 5, so you should read our detailed report for more insight.  

Hyundai seems to be taking its time to roll out EVs here which can be attributed to the limited infrastructure, especially the charging network. However, with over 79,000 fast chargers by various companies expected to be up and running by 2025, the carmaker believes range anxiety among the masses will dissipate and more EVs will be on the road.  

In fact, Hyundai believes that EVs could see a 53 percent increase in sales by 2028. If 2020 has taught the world anything, it’s that even the best plans can go off rails due to unforeseen circumstances. The projected growth of EVs may not pan out exactly as stated but the transition seems all but inevitable. At the end of the day, it tends to boil down to pricing, and if these EVs are competitively priced, Hyundai could strike gold in this expanding segment.