Hyundai India’s IPO shows plans for new models and market domination

Hyundai Motor Group CEO Euisun Chung attended the listing ceremony and said the initial public offering of its Indian unit increases its exposure to the Indian market. He also said that the IPO shows that HMIL is a key part of India. The carmaker that produces popular models like Creta and Venue will look to boost its electrification journey by introducing several offerings.

The carmaker plans to launch almost four electric vehicles in the next quarter, starting with the Creta EV. The aim would be to increase investment, localization of electric vehicles, and increase research and development across the country. With over 12 million sales in both domestic and overseas markets, Hyundai India started its journey with the Santro hatchback and launched as many as 38 cars in the Indian market. Hyundai’s IPO is the largest public offering in history and is valued at Rs 27,870 crore.

The automaker will begin expanding its electric vehicle portfolio, including increasing localization through local battery production in cooperation with an Indian partner and localizing electric vehicle production. With the new plant, along with the existing plant in Tamil Nadu, production capacity will be increased.

Hyundai’s journey to India started with the Santro, which started production way back in 1996, while the carmaker currently holds the leadership position in the above 4m segment with Creta, but looking at the EV space, it plans to soon, as of now enter the competitive segment the carmaker was present through the premium Ioniq 5.

In the future, we can expect newer models and localization of the electric vehicle platform that will result in affordable electric cars. As mentioned earlier, the next product will be the Creta EV, which will see the Creta range enter the electric compact SUV space while also looking at more volume-oriented EVs.

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