top of page

Hyundai Drives into India's Hybrid Future, Plans SUV Launch by 2026

Hyundai's Hybrid Leap Targets India's Automotive Landscape

1 May 2024

|

Neelesh Bachani

India produced 3X more unicorns than China in 2022.png
  1. Hyundai Motor Group plans to launch its first hybrid vehicle in India by 2026, signaling a strategic shift towards diversification beyond electric vehicles to capitalize on the evolving automotive market in the country.


  2. Both Hyundai Motor and Kia Corp, subsidiaries of the group, are gearing up to introduce hybrid SUVs between 2026 and 2027, recognizing the importance of hybrid technology in addressing challenges such as pricing constraints and inadequate charging infrastructure hindering EV adoption in India.

     

  3. Amidst product diversification efforts, Hyundai is also considering a $3-billion IPO and strategic adjustments such as scaling back production in China and divesting Russian plants, showcasing its commitment to innovation, market adaptation, and sustainable growth in the competitive automotive industry.

Hyundai Motor Group is gearing up to introduce its first hybrid vehicle in India by as early as 2026, aiming to expand its footprint in the country beyond electric vehicles. The conglomerate is reportedly considering launching a hybrid sport-utility vehicle, roughly the size of a mid-sized Creta SUV, catering to the Indian market. With Hyundai ranking as the second-largest car manufacturer in India, this strategic move underscores the company's commitment to diversifying its offerings.

 

Both Hyundai Motor and Kia Corp, subsidiaries of the group, are eyeing the introduction of hybrid SUVs between 2026 and 2027. Despite their emphasis on electric vehicle (EV) initiatives, the automakers are recognizing the significance of hybrid technology in addressing the evolving automotive landscape. As revealed in a Reuters report, Hyundai is steadfast in its pursuit of electrified mobility, emphasizing the optimization of product strategies tailored to individual markets.

 

The decision to pivot towards hybrids aligns with Hyundai's observation of a surge in technology sales within India, positioning the country as its third-largest revenue contributor after South Korea and the United States. Moving away from a singular focus on battery electric vehicles, the company aims to leverage hybrid solutions to navigate challenges such as pricing constraints and insufficient charging infrastructure that have hindered EV adoption in India.

Apply to Xartup Fellowship Program

Get ₹1.5 Crore Technical Funding

Presently, Hyundai and Kia predominantly market petrol and diesel vehicles in India, supplemented by imported EV models like the IONIQ 5 and EV6. However, the anticipated launch of locally manufactured EVs in 2025 faces hurdles, prompting the exploration of hybrid technology as an interim measure. Sources suggest that Hyundai, with existing hybrid expertise in global markets, is customizing this technology to suit the Indian automotive landscape.

 

In addition to its product diversification efforts, Hyundai is reportedly contemplating a $3-billion IPO amid strategic adjustments such as scaling back production in China and divesting its two Russian plants. This multifaceted approach underscores the company's commitment to innovation, market adaptation, and sustainable growth, positioning it for continued success in an increasingly competitive automotive industry.

Thanks for subscribing!

Startup news delivered to your mail

Recommended for you
Budget 2023: Did it Live up to the Startup Ecosystem's Hopes?
Budget 2023: Did it Live up to the Startup Ecosystem's Hopes?
sqs_edited_edited.png
From Singapore to India, Pine Labs' Strategic Relocation Approved
From Singapore to India, Pine Labs' Strategic Relocation Approved
sqs_edited_edited.png
Mid-Sized IT Companies Gain Ground as TCS and Infosys Struggle
Mid-Sized IT Companies Gain Ground as TCS and Infosys Struggle
sqs_edited_edited.png
bottom of page