Hyundai Motor India Limited (HMIL)

is aiming to generate most of its sales from electric vehicles (EVs) by FY30, with electric powertrains expected to contribute more than ICE (Internal Combustion Engine) vehicles, said the top management.

“We are set to accelerate our presence in the EV market, building on the strong foundation laid in FY25 with the launch of the Creta Electric,” Unsoo Kim, MD, Hyundai Motor India, said.

Currently, Hyundai India’s electric portfolio, which reported sales of 3,969 units in the recently closed fiscal year, incorporates the newly debuted Creta Electric and IONIQ 5. The Creta Electric has received a good consumer response till now, added the management. Creta Electric's increased popularity has given a significant boost to the company's plan to delve into EVs across segments, identifying a ‘blue ocean’ of both mass-market and premium categories.

The company has also decided to switch to DC fast chargers from AC chargers after observing the current EV market ecosystem.

With six electric product launches in the pipeline, the company is expanding 89 operational EV chargers to 600 by 2032. With a focus on localisation of crucial components such as batteries, drivetrain/power electronics, and is open for collaborations with Indian partners for EV cells.

The automajor is also focusing on robust EV infrastructure, localisation of its components through the new Talegaon plant opening.

Focus on market share

Hyundai has also outlined a major expansion strategy to regain its position in the Indian market as the carmaker observes a market share slide. Its market share dropped to 14 per cent in the last financial year--its lowest since FY13.

The South Korean major is aligning 26 new launches and new powertrain technology inclusion to claw back its loosened position. The launch pipeline incorporates 20 ICE and 6 EVs with multiple hybrids (including a strong hybrid powertrain) by the decade's end, said Kim during the post-earnings call for Q4 FY25.

"Looking ahead, we remain cautiously optimistic on the domestic demand outlook in the near term amid prevailing macro-turbulences and weakening customer sentiments,” said Unsoo Kim, MD, Hyundai Motor India. Though it hopes for a market recovery by RBI rate cuts and income tax reliefs.

By FY27, Hyundai will roll out eight new models that are going to be a mix across powertrains, said COO, Tarun Garg. However, further details about the launches are expected to be revealed during the company’s September investor meeting.

Talegaon plant

The South Korean automaker is planning to roll out its electric and ICE vehicles from its yet-to-be-operationalised Talegaon, Pune plant.

It has planned a capital expenditure of ₹7,000 crore in the ongoing fiscal, with 40 per cent of the amount’s infusion in its manufacturing plant in Pune, while 25 per cent will be for its product expansion, the management added.

The production from the plant will commence from Q3 of FY26 to cater to the various market demands. However, the company also expects a short-term margin pressure due to the new plant opening.

On the export front, the company has a growth projection of 7–8 per cent this fiscal. This projection aligns with its earlier aim to make India Hyundai’s largest export hub after its home country.