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Hyundai Plans to Launch Electric Cars In India

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Hyundai Plans to Launch Electric Cars In India

Hyundai, the country's second largest car maker, will launch its first electric car in the Indian market by 2019. Along with this, Hyundaiwill also become the first foreign automobile manufacturer In India to market electric cars in India. The company will import electric vehicles in the domestic market under the CKD model. Hyundai Motor India Managing Director and Chief Executive Officer YK Koo plans to estabilish manufacturing of Hyundai electric cars in India, after studying the market response and size in India. The company will show a glimpse of its ionic electric vehicle in the auto expo next week.

Electric vehicle Market In India

The company will launch the ionic in the domestic market or bring the Kona Electric Vehicle. The price of electric vehicle will be determined on the basis of market conditions. There is also an urge from the Hyundai to the Indian Government to decrease the GST from existing 12% on electric vehicles and promote battery technology. India has prepared ambitious plans to turn 100% electric vehicles by 2030. But Sym, a group of automobile manufacturers, has suggested that by 2030, 40% of individual vehicles can be electric, while by then 100 percent of public transport vehicles will be electric. The organization has said that all passenger vehicles can be electric till 2047.

Preparation to increase production By Hyundai Motors In India.

Hyundai India produced 6,78,221 vehicles in the calendar year 2017 out of which 5,27,320 vehicles were sold in the domestic market. Koo said that the company has set target of 7,13,000 vehicles in 2018. He said that with the capacity utilization of 99% capacity utilization in the Chennai plant, preparations are on to increase production through operation. He said, "We still have the option of producing 763,000 vehicles without any capacity expansion in 2019." Hyundai is the second largest company to export cars from India.

Production plan

Koo said that in 2018, there will be two facelift models of existing cars and a new model of entry level. In the year 2019, Hyundai will launch an electric car, a completely modified model and a new compact SUV. The company is planning to bring three completely changed models in 2020. Koo said that the company can not compete with Maruti Suzuki in terms of sales, but the sale of 10 lakh vehicles annually in the Indian market is the dream. Further more he said, 'We will be able to do this by 2020 or 2021.' Maruti is planning to sell 2 million vehicles by then.

The company is going to launch a new entry-level new car this year, which is being compared to Santro. But Koo said that the new car will be wider and bigger than Santro. He said that the name of the new car has also been suggested to keep Santro which will be considered. Santro was Hyundai's first car in India which was launched in 1998 and its production was stopped in 2015. Koo said that the global car market is changing rapidly. He said, "I still have not been able to clarify what is going on in the market. At present, everyone is talking about electric vehicles. We have to keep an eye on the market. "

Kia Motors will showcase 16 vehicles in Auto Expo

A unit of the Hyundai Group, will showcase the 16 models including SUVs, electric vehicles in 2018 Auto Expo. The company will launch a new concept car in India. Advanced technology-driven SP Concept Car indicates that the company plans to launch a new SUV in the Indian market in the future. The Company in Auto Expo will showcase a wide range of electric vehicles, plug-in hybrid and many other cars, including new stinger sports sedan. HW Park, chairman of Kia Motors Corporation, said, "Our intention is to set a new standard in the Indian automobile industry, which we will fix through the world-famous products and services." At the same time, we will include the local community.

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