Hyundai Motor India, the second largest carmaker in the country, is set to enter the hybrid vehicle segment in the coming three years. Amid growing demand for hybrid vehicles globally and in India, the South Korean brand is looking to add hybrid powertrain as part of its electrified future in India, which is a departure from pure EV future planned in the past, say sources.
People in the know say that Euisun Chung, the executive chairman of Hyundai Motor Group, told employees in India recently that hybrids will be a critical part of its portfolio in the country, along with electric vehicles. Chung had addressed a town hall earlier in the month offering a long term strategy for the Indian market.
- Hyundai midsize SUVs, sedan likely to receive hybrid tech
- Makes sense to use hybrid tech with diesel engines to meet emission norms
- Maruti has already begun development of hybrids for India
Hyundai is likely to bring in hybrid powertrain alternatives to its midsize SUVs and sedan in the future. It may go into vehicles like the Creta, Alcazar, Verna, and even the larger Tucson SUV in the coming decade, added sources close to the development.
To be sure, Kia has already committed to bringing in hybrid vehicles in India, but Hyundai was non-committal on bringing in that technology, with the investment being prioritised on pure battery electric vehicles. “While the company has stuck with diesel engines post BS6 Phase II, post 2027, the cost to meet future emission norms for diesel will make it even more expensive and hence, it makes sense to look at hybrid technology for midsize vehicles to remain competitive,” added another person in the know requesting anonymity.
An email sent to Hyundai Motor India is yet to elicit any response.
Hyundai India EV, hybrid roadmap
Hyundai Motor India has committed Rs 33,000 crore investment in the coming decade in the country and has set itself a target of creating a capacity of 1.5 million vehicles by the end of the decade. The first localised EV based on Creta will be launched in less than a year and a mass market offering is also scheduled to hit the roads in 2026-27. The South Korean carmaker has also partnered Indian battery maker Exide Industries to localise cells to ensure an accessible price.
Maruti Suzuki already on hybrid path
During the financial year 2023-24, about 85,000 to 90,000 hybrid vehicles were sold in India, accounting for 2 percent of total sales in the country. Hyundai’s closest rival, Maruti Suzuki, along with its global alliance partner, Toyota, continue to drive the hybrid vehicle segment in India. The market leader is aiming for sales of about 7.5 lakh hybrid vehicle sales by the end of FY2031 and it is already building affordable hybrid vehicles.
R C Bhargava, chairman of Maruti Suzuki recently informed that Suzuki Motor Corporation in Japan has already started working on affordable hybrid technology to diversify the product offering and bring in compact vehicles with a better fuel efficiency.
Autocar India had exclusively reported that Maruti Suzuki had started working on series hybrid technology to democratise the same in the country with a more accessible price. The Government of India has already expressed potential of rationalization tax or cess on hybrid vehicles in the future to make it more accessible.
Also see:
Hyundai Grand i10 Nios, i20, Verna and Aura get up to Rs 48,000 discount
Hyundai Venue, Alcazar get up to Rs 55,000 in discounts this month
