Auto Expo 2020: Hyundai Plans to Bring Electric Car Cost Under Rs 10 lakh in 3 Years

Auto Expo 2020: Hyundai Plans to Bring Electric Car Cost Under Rs 10 lakh in 3 Years

South Korean automotive major Hyundai Motor India Ltd that set the cat among pigeons last year by launching the Kona electrical SUV for Rs twenty-five lakh is aiming to disrupt the aborning motorcar market once more by transferral in a very cheaper electrical model for fewer than Rs ten lakh among consecutive three years.

It aforementioned the market was still not right for launching additional cars forthwith because the scheme for charging also as native production of e-vehicle components wasn’t developed nevertheless, however, it hoped the market would be prepared over consecutive 3 years.

“I will say that the changes in taxation for EVs within the budget isn’t most positive for North American country however we have a tendency to area unit clear that we’ll absorb the value increase and not pass it on to the customers. The thought of launching the Kona wasn’t to sell in massive numbers however to showcase technology that EVs area unit fun to drive and straightforward to measure with. Thereto extent I feel it’s done its job,” aforementioned S S Kim, administrator and chief operating officer, HMIL.

In its bid to nudge makers to supply additional in India instead of accepting imports from China, the Indian government in its budget given last weekday multiplied tariff on fully designed electrical bus and trucks from twenty-five to forty per cent, on semi-knocked down units of bus, trucks and two-wheelers from fifteen per cent to twenty-five per cent and on rider vehicles and three-wheelers from fifteen per cent to thirty per cent. On fully knocked down units of all EVs, duty was hiked from ten per cent to fifteen per cent.

“Kona isn’t strictly a CKD (completely knocked down unit) as we have a tendency to manufacture some components within the country also. However we’ll localise additional to the extent attainable which is able to facilitate North American country in managing the rise in value also,” Kim said.

After the launch of Kona, the electrical vehicle landscape in India has intense with the launch of MG Motor’s ZS electron volt at but Rs twenty large integer and additional recently Tata launching the electrical version of its compact SUV Nexon at but Rs fifteen lakh.

At the automotive vehicle exposition, Mahindra launched an electrical version of its compact SUV, KUV1OO, targeted at the fleet section that qualifies for the celebrity a pair of subsidies at Rs 8.25 lakh.

“We oversubscribed three hundred units of the Kona last year and our target is to sell regarding five hundred units this year. It’s clear that in times to return to the electron volt area can get thronged however even then in terms of overall volume, it’ll simply be regarding one pper cent of trade sales. that’s not terribly vital. however we wish to herald an inexpensive, mass-market auto among following two-three years. we have a tendency to ar acting on it,” he added.

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    Neelam Jaiswal is a former editor of Ub News and has a lot of experience in business news. She is managing business news on My Office Hub. Reach her on

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