
Hyundai ramping up EV portfolio, eyes leadership in the long run
Hyundai Motor India is eyeing the Number One position in EVs and its aggressive future product plans include a wide range of EVs ranging from small cars to big SUVs.
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Buy Now!Hyundai Motor India is eyeing the Number One position in EVs and its aggressive future product plans include a wide range of EVs ranging from small cars to big SUVs.
The company eyes $500 million revenue from EV business in the next five years. To participate in the growth of EV business, the NCR headquartered, auto component major has lined up an investment of Rs 1,000 crore for Anevolve EV division by 2027.
Endurance Technologies expects aftermarket segment potential to touch $100 million in three to five years and the multiproduct manufacture is aming for a slice of it.
The group has lined up Rs 2,500 crore investment to become a full service parts supplier for EVs in India barring battery cells.
With plans of investing $100-150 million, the development work on a dedicated platform code named 'L' has begun and the new EV Project Head Umesh Krishnappa aims to deliver by 2024.
With plans to grow by 10 percent in 2023, Kia Motors plans to expand annual capacity to 4.2 to 4.5 lakh units in the next two or three years. Autocar Professional speaks with Tae Jin Park, Managing Director of Kia India about the South Korean automotive brand's India plans.