Hyundai's Hybrid Journey: New Ventures Into India's EV Market
Hyundai Motor India, a major player in the country”s automotive landscape, is gearing up to make significant strides in the hybrid vehicle segment by 2027. This strategic move comes as part of Hyundai“s broader commitment to embrace electrification while accommodating the evolving preferences of Indian consumers.
It was recently conveyed to Indian employees that hybrid vehicles would be key to the brand”s portfolio in the country, alongside electric vehicles (EVs). Hyundai outlined a long-term strategy tailored for the Indian market, emphasizing the importance of hybrids in Hyundai”s future plans.
The forthcoming hybrid offerings from Hyundai are expected to encompass midsize SUVs and sedans, potentially including popular models like the Creta, Alcazar, Verna, and the Tucson SUV. This decision reflects Hyundai”s proactive approach to leveraging hybrid technology, particularly in tandem with diesel engines, to meet stringent emission norms while maintaining competitiveness in the market.
While Hyundai has previously prioritized investments in pure battery electric vehicles, the shift towards hybrid technology underscores the company”s adaptability to changing market dynamics. With the cost of meeting future emission standards for diesel engines expected to rise post-2027, embracing hybrid technology for midsize vehicles emerges as a pragmatic and sustainable solution.
Hyundai”s foray into the hybrid vehicle segment aligns with its broader electrification roadmap for India. With a committed investment of Rs 33,000 crore over the coming decade, Hyundai aims to establish a manufacturing capacity of 1.5 million vehicles in India by the end of the decade. The company”s localization efforts, including collaborations with Indian battery maker Exide Industries, are geared towards ensuring affordability and accessibility of electric vehicles in the Indian market.
In contrast, Hyundai”s rival, Maruti Suzuki, has already embarked on the hybrid path, driven by its alliance with Toyota. Maruti Suzuki aims to achieve substantial sales of hybrid vehicles by FY2031, with a focus on affordability and fuel efficiency. Suzuki Motor Corporation in Japan has initiated efforts to develop affordable hybrid technology, indicating a push towards democratizing hybrid vehicles.
The Indian government”s potential plans to rationalize taxes or cess on hybrid vehicles further highlights the growing traction of hybrid technology in the country. As the automotive industry navigates the transition towards sustainable mobility, Hyundai”s strategic entry into the hybrid segment positions it as a key player in shaping India”s automotive landscape.
Hyundai”s decision to venture into the hybrid vehicle segment emphasizes its commitment to innovation and sustainability in India. By embracing hybrid technology alongside its EV initiatives, Hyundai aims to offer consumers a diverse range of eco-friendly mobility solutions while addressing regulatory requirements and market preferences. As the automotive industry evolves, Hyundai”s hybrid endeavours are set to make a significant impact on India”s journey towards a greener future.
