Hyundai is all set for the 2023 Auto Expo with the headliner showcase being the Ioniq 5 and Ioniq 6 electric vehicles. That said, it is now being reported that the company has already started working on an electric version of the Creta, to appeal to a more mass-market segment.
Hyundai’s electric vehicle plans for India
Unlike other players, Hyundai has decided to opt for a top-down approach. This means that initially the Korean carmaker would import completely built units like Kona EV. In the next phase the company would be introducing electric cars that are based on ICE platform. Example is the Creta. And finally, there will be complete localisation of the dedicated E-GMP all-electric platform based vehicles being manufactured locally.
Until the Creta EV sees the light of the day, Hyundai’s Kona EV and the Ioniq 5 will have to hold the fort. The low volume sellers will ensure sufficient time for the other aspects of electric vehicles like sourcing, manufacturing and charging infrastructure.
Price point of the Hyundai Creta EV
When it comes to pricing, the electric vehicle equivalents cannot be priced very high from their regular ICE counterparts. This means that we can expect the Creta EV to fall in the INR 20-30 lakh price bracket.
Manufacturing of the Hyundai Creta EV
Hyundai’s Chennai plant is currently undergoing planned repurposing to incorporate the manufacturing of electric vehicles. The timeline for this is said to be FY2022. Towards this end, Hyundai is said to have invested INR 1,472 crore to expand the production of the plant to 8.5 lakh units per year. This should take care of the near future demand.
We could see the first lot of electric Creta’s being produced by the last quarter of 2024 with a planned unveiled at the 2025 Auto Expo.
Competitors of Hyundai Creta EV
Maruti’s YY8 electric SUV is also estimated to be ready by 2023. This will be the primary rival of the electric Creta. Tata and Mahindra will also have electric vehicles that could compete with the Creta EV. While Tata has the early mover advantage and the fact that it is currently the bigger electric vehicle seller in India, the Indian carmaker could also consider coming out with a rival.
Also Read – Hyundai sold 1,40,895 Creta SUVs in CY 2022.
