Hyundai announces Vision 2030, confirms Indian Made EVs 

In its Vision 2030, Hyundai Motor Company, at Investor Day in New York, has announced its plan to launch a  locally designed EV for India, complemented by a completely localised supply chain.

Considering India as a key pillar in the company’s global growth strategy, Hyundai signalled a long-term commitment to the Indian market. As per the company, the main emphasis of their production will be affordability, practicality, and local sourcing. 

Furthermore, Hyundai disclosed that its multi-model export centre in Pune will be crucial to its international growth. The plant will add 250,000 more units to Hyundai's worldwide manufacturing capacity by 2030, solidifying India's position as a key export market and a driver of domestic growth.

Hyundai's India EV strategy will help the government's drive for electrification and sustainable mobility while enhancing its already robust SUV lineup. In the Indian market, the automaker has already launched EVs such as the Hyundai IONIQ 5, Kona, and Creta. However, the locally developed model will try to meet mass-market demand by bridging the gap between high-end imports and reasonably priced compact EVs.

By 2030, Hyundai intends to sell 5.55 million cars worldwide, including 3.3 million electric vehicles (EVs, hybrids, and extended-range EVs, or EREVs). Moreover, India is anticipated to play a significant role in this expansion in terms of both exports and sales.

Hyundai will use cutting-edge technologies, localise production in strategic markets, and provide full electrified portfolios across all segments. India will be the focal point of this plan, serving as a global centre for production and innovation in addition to being a sales market.