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Hyundai to Introduce More EVs to Indian Market

Hyundai Motor Group announced on Tuesday its intention to introduce more electric vehicles under the Hyundai and Kia brands in India. Already the second-largest carmaker in India by sales volume, the South Korean company is looking to further strengthen its position in what is the world’s third-largest auto market.

Five new EV models are set to be introduced by Hyundai by 2032, while the company hopes to grow its charging station network to 439 by 2027. Currently, the carmaker already sells two EV models in India, namely the Kona and Ioniq 5 SUVs.

With a current market share in India of 6.7%, Hyundai is aiming to capture 10% of the Indian market. In pursuit of this goal, Hyundai aims to start producing small EVs in 2025 while also expanding its charging infrastructure and doubling its sales network.

The company expects its EV sales in India to hit one million units by 2030. Hyundai only sold 48,105 EVs in the country in fiscal 2023, government data revealed.

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