Eyeing to tap the lucrative and developing electric vehicle market in India, South Korean auto major Hyundai is planning to launch an electric SUV in the country next year. Hyundai will first bring the electric SUV as a completely knocked down (CKD) unit but will look to manufacture is locally later.
Sharing the plan with media, Hyundai Motor India MD and CEO YK Koo said, “We will launch an electric SUV in the second half of 2019. We will import it as a completely knocked down unit.”
Koo said the company’s strategy for electric vehicles (EV) is in line with the government’s vision of making India an EV market by 2020. However, the top Hyundai Motors official pointed out that more liberal policies on taxation for the EV segment in the country would encourage the EV market further.
Hyundai had showcased EV models Ioniq and Kona during the auto expo earlier this year in Delhi.
Koo said the company plans to launch eight new models in the country by 2020, including the electric SUV next year.