LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Automobile News

Second EV product in India could be a smaller SUV: Hyundai

South Korean auto major Hyundai could bring in a smaller electric SUV to India after assessing the response for its bigger Kona electric SUV which it plans to introduce in the country next year, a top company official said.  

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Second EV product in India could be a smaller SUV: Hyundai
When asked if the second EV product could be a sedan or a SUV, Koo said, "We will review both sedan and SUV (body styles) but I think chances for bringing an SUV are much higher". Image Source: IANS
Written By: PTI
Updated: Sun, Oct 28, 2018
06:06 pm
Bhubaneswar, PTI
RELATED NEWS
Hyundai recalls 471,000 more SUVs, tells owners to park outside Hyundai recalls 471,000 more SUVs, tells owners to park outside
Hyundai Motor to launch dedicated EV platform in major push into electric cars Hyundai Motor to launch dedicated EV platform in major push into electric cars
Hyundai, Kia agree to $210 million U.S. auto safety civil penalty Hyundai, Kia agree to $210 million U.S. auto safety civil penalty
MASSIVE Car Discounts! Maruti Alto, Swift Dzire, Baleno, Hyundai Aura, Santro, Mahindra XUV300, Bolero, Tata Nexon, more - check it all out MASSIVE Car Discounts! Maruti Alto, Swift Dzire, Baleno, Hyundai Aura, Santro, Mahindra XUV300, Bolero, Tata Nexon, more - check it all out
Hyundai Venue iMT: Now change gears without using clutch Hyundai Venue iMT: Now change gears without using clutch

South Korean auto major Hyundai could bring in a smaller electric SUV to India after assessing the response for its bigger Kona electric SUV which it plans to introduce in the country next year, a top company official said.

The company, which operates in the country through its wholly-owned subsidiary Hyundai Motor India Ltd (HMIL), would launch its first electric model Kona in the second half of the next year.

"We are planning to unveil Kona electric SUV in the second half of next year on completely-knocked down basis (CKD). Our electric vehicle strategy is top to down," HMIL Managing Director & CEO YK Koo told PTI here.

With Kona, the company is going to test the market for electric vehicles (EV) in India, he added. "It (Kona) is not going to be volume product for us. After then we can review which other EV product can suit the Indian market," Koo said.

When asked if the second EV product could be a sedan or a SUV, Koo said, "We will review both sedan and SUV (body styles) but I think chances for bringing an SUV are much higher".

The company currently sells SUVs like Creta and Tuscon with conventional petrol and diesel engines. It is also set to bring in a sub 4-metre compact SUV next year, which will compete with the likes of Maruti Vitara Brezza, Tata Motors Nexon and Ford EcoSport.

Koo said the company may also look at an entry-level micro SUV in the future. "...After 4-5 years we can review and take a call on a micro SUV. May be the demand will be there for such a vehicle at that time," he said.

When asked if the company could also bring in models with hybrid technology, Koo said: "Hybrid is not our choice as government is focusing on EV and hence we have chosen Kona. However we have technology both for both EVs and hybrids and utilise when required".

On expectations from recently introduced new Santro, Koo said the company is looking to sell around 8,000-9,000 units per month , thus garnering a market share if around 30 per cent to begin with in the 30,000 strong per month mid compact segment. Terming the product as very important for Hyundai, Koo said it will help in bring in entry level customers to the company's fold.

"When we phased it out (Santro) in 2014 we lost out strong presence in the entry segment but now the time has come not only to regain volumes but also market share in the segment," he said. "The product completes our product line up from entry level to the premium segment," Koo added.

Watch This Zee Business Video Here:

Earlier this year, Hyundai announced plans to invest over USD 1 billion in India in the next three years on new products, development of powertrain and setting up of a new office building. It has lined up nine products to be introduced between 2018 and 2020.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
HyundaiElectronic vehicle
RELATED NEWS
Hyundai recalls 471,000 more SUVs, tells owners to park outside Hyundai recalls 471,000 more SUVs, tells owners to park outside
Hyundai Motor to launch dedicated EV platform in major push into electric cars Hyundai Motor to launch dedicated EV platform in major push into electric cars
Hyundai, Kia agree to $210 million U.S. auto safety civil penalty Hyundai, Kia agree to $210 million U.S. auto safety civil penalty
MASSIVE Car Discounts! Maruti Alto, Swift Dzire, Baleno, Hyundai Aura, Santro, Mahindra XUV300, Bolero, Tata Nexon, more - check it all out MASSIVE Car Discounts! Maruti Alto, Swift Dzire, Baleno, Hyundai Aura, Santro, Mahindra XUV300, Bolero, Tata Nexon, more - check it all out
Hyundai Venue iMT: Now change gears without using clutch Hyundai Venue iMT: Now change gears without using clutch

LATEST NEWS

Karnataka Budget 2021: Big gift for Ram Temple Ayodhya pilgrims - All details here

PUBG Mobile 1.3 global update: APK download link, check expected release date and more!

Toyota VC invests in AI startups, firms that refine everyday processes

Petrol price near Rs 100? Forget that, here is something that will give you 100-km for only Rs 7

Alert! WhatsApp may stop working on these smartphones | Is your phone on list? Check details NOW

Indian Army Recruitment 2021: Pay up to Rs 1,77,500 after training! Check vacancy details, last date to apply, age limit, and other details here

Oppo F19 Pro+ 5G and Oppo F19 Pro India launch today: Check timings, how to watch event LIVE, expected price and more

SBI loan against shares: Check eligibility, minimum and maximum loan amount, processing fee and other details

Happy International Women's Day: Check best WhatsApp wishes, quotes, messages fo your loved ones

25 per cent DA for central government employs from April? What does this 7th Pay Commission benefit mean, how it helps pensioners? EXPLAINED

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved