Hyundai’s Chennai factory to roll out mass-market EV this year
Chennai: Hyundai Motor India Ltd (HMIL) said its first mass-market dedicated electric vehicle (EV) for India will be rolled out from its Sriperumbudur factory near Chennai this year, as the company has designated Tamil Nadu as its flagship EV manufacturing hub for the country.
“We will roll out two new models from the Chennai facility, including our first mass-market dedicated EV within this year, marking a significant step towards accelerating EV adoption and building a strong EV ecosystem,” said Tarun Garg, MD & CEO of HMIL.
Of the two new launches, the dedicated EV — a localised product that will come in the compact SUV segment — is expected to help the company strengthen its EV presence as adoption of battery-powered vehicles gathers pace in the country. The model is expected to be launched ahead of the implementation of CAFE III emission norms. The second launch will be a mid-size SUV (above 4 metres) in the internal combustion engine (ICE) segment.
HMIL has already established Tamil Nadu’s first battery sub-assembly plant for EV powertrains and is localising power electronics and other key components. It has also built an EV charging network in the state comprising 39 DC fast-charging stations with 78 charging points and plans to expand coverage across major cities and highways over the next two-three years.
Alongside its EV push, Hyundai plans to increase localisation levels across both EV and ICE vehicle operations from the current 82% to 90% over the next five to six years. The company will also increase sourcing from Tamil Nadu-based suppliers by around Rs 4,000 crore during the period, a move expected to generate about 2,000 additional jobs in the state.
HMIL reaffirmed its commitment to invest more than Rs 26,000 crore in TN by 2032 as part of its previously announced Rs 45,000-crore investment programme in India.
“We will roll out two new models from the Chennai facility, including our first mass-market dedicated EV within this year, marking a significant step towards accelerating EV adoption and building a strong EV ecosystem,” said Tarun Garg, MD & CEO of HMIL.
Of the two new launches, the dedicated EV — a localised product that will come in the compact SUV segment — is expected to help the company strengthen its EV presence as adoption of battery-powered vehicles gathers pace in the country. The model is expected to be launched ahead of the implementation of CAFE III emission norms. The second launch will be a mid-size SUV (above 4 metres) in the internal combustion engine (ICE) segment.
HMIL has already established Tamil Nadu’s first battery sub-assembly plant for EV powertrains and is localising power electronics and other key components. It has also built an EV charging network in the state comprising 39 DC fast-charging stations with 78 charging points and plans to expand coverage across major cities and highways over the next two-three years.
Alongside its EV push, Hyundai plans to increase localisation levels across both EV and ICE vehicle operations from the current 82% to 90% over the next five to six years. The company will also increase sourcing from Tamil Nadu-based suppliers by around Rs 4,000 crore during the period, a move expected to generate about 2,000 additional jobs in the state.
HMIL reaffirmed its commitment to invest more than Rs 26,000 crore in TN by 2032 as part of its previously announced Rs 45,000-crore investment programme in India.
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