Hyundai Motor Group has set its sights on launching its initial hybrid vehicle in India in the near future, with reports pointing to a potential release as early as 2026. This strategic move is part of the company's broader ambition to diversify its offerings beyond electric vehicles and strengthen its market position within India. The group, which comprises Hyundai Motor and Kia Corp, is considering introducing a hybrid sport-utility vehicle that mirrors the dimensions of the mid-sized Creta SUV, catering to the preferences of the Indian consumer base.
As the second-largest car manufacturer in India, Hyundai is keen on tapping into the growing demand for advanced automotive technology within the country, where it has established itself as a significant revenue contributor. Recognizing the evolving automotive landscape and the varying preferences of different markets, Hyundai is re-evaluating its product strategies to align with the shifting demands of consumers in India. While the company has been primarily focused on traditional petrol and diesel cars, alongside importing EV models like IONIQ 5 and EV6, they are now gearing up to launch domestically produced EVs in 2025, signaling a comprehensive approach to cater to a diverse range of customer needs.
With the adoption of electric vehicles facing certain challenges in India, including pricing concerns and an inadequate charging infrastructure, the decision to explore hybrid technology represents a strategic pivot for Hyundai. By leveraging their existing hybrid technology from other global markets and adapting it to suit the specific requirements of the Indian market, Hyundai is demonstrating its commitment to providing sustainable mobility solutions that align with local conditions. In conjunction with their hybrid ambitions, the group is also embarking on an IPO valued at $3 billion, amid strategic changes such as reducing production in China and divesting their Russian manufacturing facilities.