Hyundai is possibly working on a new electric car variant of the SUV Hyundai Creta. Rumours have it that the EV version of the Hyundai Creta will make its debut in the Indian market by 2025. A report by Autocar suggested that the EV is being developed under the project SU2i EC, and Hyundai is planning series production by the fourth quarter of 2024. The estimated sales target of the brand is 20,000 to 25,000 units per annum.
Apart from that, the Hyundai Creta EV could have a face-off with the upcoming Maruti YY8 EV SUV. Until now, there has been no official confirmation regarding the price point of the upcoming electric vehicle offering. However, speculations are that it will be priced somewhere between Rs 15 lakh to Rs 30 lakh. Hyundai’s main focus with the launch of the EV will be to capture as much Indian EV market as possible.
In future, Hyundai is planning to represent itself as one of the most important EV makers in the Indian market. The one-of-a-kind approach of the company has already been witnessed in CBU and CKD units in the form of Hyundai IONIQ 5 and the Hyundai Kona EV.
Hyundai wants to derive an electric powertrain from an existing architecture supporting other ICE powertrains. According to the reports, this will be followed up by full localization of Hyundai Kia’s E-GMP EV platform for utilization in the Indian and global markets. By the time Creta debuts in the market, Hyundai will already solve all the crucial back-end aspects like sourcing, manufacturing, and charging infrastructure.
The brand will be tightening its belt as it is preparing to launch around six electric vehicles in India by the year 2028. It has already kickstarted the upgradation in the Chennai facility, where a lot of activity has been witnessed. The production facility of Hyundai is being repurposed to accommodate the production of ICE-platform-based electric vehicles. Talking about the investment, Hyundai has already invested Rs 1,472 crore in the expansion of plant capacity to 8.5 lakh units. Additionally, the Korean automaker has also said to invest around Rs 4,000 crore in the introduction of EVs into its portfolio in India.
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