Expansion of choices in the mainstream market could potentially double the penetration of EVs in India to 5% this year
13 Jan 2025 | 5762 Views | By Ketan Thakkar
Tarun Garg, COO of Hyundai Motor India, says 2025 could be a year of "big change” for the Indian electric car market. His company will play a critical role in driving adoption in the nascent yet fast-emerging EV space.
Garg believes the Indian electric car market could potentially double ...
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Tarun Garg, COO of Hyundai Motor India, says 2025 could be a year of "big change” for the Indian electric car market. His company will play a critical role in driving adoption in the nascent yet fast-emerging EV space.
Garg believes the Indian electric car market could potentially double with the participation of mainstream players, including Hyundai. That would mean the share of EVs could cross 5% in 2025.
Hyundai Motor India will be eying a similar market share in EVs as a mainstream market of around 14-15%, led by the Made in India Creta EV, scheduled for launch on January 17th.
While the prices are yet to be announced, given that Creta is based on the highly profitable Internal Combustion Engine platform, Hyundai will likely offer a very aggressive price to drive penetration.
Garg declined to give any indicative price points, urging to wait until January 17th for a price announcement.
Sources say Creta EV may start from a price point of around Rs 17 lakh to Rs 19 lakh.
The penetration of EVs in the total passenger vehicle market is still around 2.3-2.4%. Limited choices, range anxiety, and limited charging infrastructure have slowed the adoption rate, and customers are unsure of EVs' reliability.
With its globally proven EV technology backed by local manufacturing, Garg believes that Hyundai will pull in buyers.
“Customers today seek more than just technology or features—they seek reliability, comfort, and value for money. The Creta Electric combines the strengths of the Hyundai brand with these aspirations, making it a compelling choice for the Indian market,” he added.
The Indian market is expected to witness over a half a dozen new EVs in the mainstream mid-size SUV market.
The Creta EV will challenge Tata Motors, the current EV market leader. Tata Motors is planning to introduce two new EVs in 2025—the Harrier EV and the Sierra EV.
India’s leading car makers, Maruti Suzuki, Mahindra & Mahindra, and Kia, will add to the excitement in the market with their respective EV offerings.
Why can Creta lead the EV penetration?
Creta was the highest-selling mid-size SUV in the market in 2024; in its 10th year of existence, the brand posted its highest-ever sales of over 1.9 lakh units, growing 19%.
“Creta is already one of India’s most trusted brands, with over 1.1 million units sold, and it remains a leader in its segment. Last year alone, Creta grew by 19%, demonstrating its continued popularity. By electrifying such a strong brand, we aim to give customers the confidence they need when transitioning to EVs,” added Garg.
Garg said there are two significant barriers to EV adoption. The first is that EVs represent a new technology, and customers are naturally cautious about reliability and performance. Hyundai brings global expertise and proven technology to India, coupled with a strong service and support network, giving customers confidence in our EVs.
The second barrier is charging infrastructure and convenience, which has always been challenging in India. “With the Creta Electric, we’ve taken a holistic approach: providing reliable home charging solutions, building a robust highway charging network, and integrating advanced technologies like in-car payment systems. These initiatives ensure that we address customer concerns comprehensively,” Garg reiterated.
Tailored for India
Based on the consumer feedback, the company has offered two battery options: a 51.4 kWh battery with an impressive range of 473 km and a 42 kWh battery with a range of 390 km.
“Based on our research, these ranges meet the needs of most Indian customers, whether they are using the car for daily commutes or longer trips. Second, charging convenience is a major focus. We are introducing an 11 kW home charger that can fully charge the vehicle in just four hours. This is a significant improvement over traditional overnight charging solutions,” added Garg.
Addressing Infrastructure challenge
Creta Electric customers can control and monitor the charging process through a mobile app, adding convenience.
Ahead of the launch, Hyundai has partnered with multiple charge point operators, and Creta electric customers will have access to 10,000 charging points across India, including 7,500 app-enabled chargers.
Additionally, over 1,100 chargers will support in-car payment systems, an industry-first feature that makes the charging experience seamless and hassle-free, claims Garg.
Hyundai has also invested heavily in fast-charging infrastructure. The company has installed 80 DC fast chargers across 30 prominent locations, including key highways like Delhi-Chandigarh, Delhi-Jaipur, Mumbai-Pune, and Hyderabad-Vijayawada. These chargers ensure customers can take long journeys without worrying about running out of charge.
“By 2030, we aim to expand this network to 600 DC fast chargers, ensuring nationwide coverage and alleviating range anxiety for our customers. The Creta Electric, with its strong range and supporting infrastructure, is designed to make highway travel as convenient as city commutes,” he assured.
With this, the company hopes to bring healthy incremental sales to the Creta brand.
While the company was non-committal about giving future guidance, Autocar Professional learned that it is gearing up for a production plan of 2000 units per month, which can be scaled up to 3000 units a month.
Four locally produced EVs from Hyundai
The South Korean car maker says Creta EV is just the start of Hyundai's locally produced models. The company plans to have a wider portfolio of four locally produced models by the end of the decade.
The company has already set up a battery packaging factory at its unit in Sriperumudur, on the outskirts of Chennai. While the cells of the Creta EV have been imported from Indonesia, the company will localize cells in its forthcoming mainstream EVs from its sourcing partner Exide.
The Creta Electric has been designed with Indian customers in mind, focusing on range, charging convenience, and advanced technology.