Hyundai to invest US$530 million to launch six EVs in India by 2028

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NEW DELHI : South Korea's Hyundai Motor Co said on Wednesday it planned to invest 40 billion rupees (US$530 million) to launch six electric vehicles in India by 2028, making a clean driving push in a country with some of the world's most polluted cities. Hyundai, India's second largest carmaker, will lau

NEW DELHI : South Korea's Hyundai Motor Co said on Wednesday it planned to invest 40 billion rupees to launch six electric vehicles in India by 2028, making a clean driving push in a country with some of the world's most polluted cities.

In India, EVs account for less than 1per cent of total car sales, but the government is aiming for a share of 30per cent by 2030. Hyundai's EVs will either be built on its dedicated electric global modular platform , which it plans to bring to India, or on a modified platform on which it currently builds its gasoline cars, Garg said.

 

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