By Hyundai is gearing up to make a significant impact in the hybrid vehicle market, signalling a strategic shift towards hybrid powertrains alongside its existing focus on electric vehicles (EVs). With the global and Indian markets showing a rising appetite for hybrid vehicles, Hyundai is poised to introduce hybrid models within the next three years, according to industry insiders. Euisun Chung, the executive chairman of Hyundai Motor Group, recently addressed employees in India, outlining the company’s long-term strategy for the Indian market.
Chung emphasized the importance of hybrid vehicles as a key component of Hyundai’s portfolio in India, alongside EVs. This marks a departure from the company’s previous emphasis solely on pure EVs, reflecting a pragmatic approach to meet diverse consumer needs. Sources close to the development suggest that Hyundai’s foray into hybrid technology will likely involve integrating hybrid powertrains into its popular midsize SUVs and sedans. Models such as the Creta, Alcazar, Verna, and even the larger Tucson SUV could potentially feature hybrid variants in the coming years.
While Hyundai’s sister brand Kia has already committed to introducing hybrid vehicles in India, Hyundai had previously prioritized investment in pure battery electric technology. However, industry insiders speculate that the rising costs associated with meeting future emission norms for diesel engines post-2027 could incentivize Hyundai to explore hybrid technology for its midsize vehicles, ensuring competitiveness in the market. Hyundai’s commitment to the Indian market is evident through its substantial investment of Rs 33,000 crore over the coming decade. The company aims to ramp up production capacity to 1.5 million vehicles by the end of the decade, leveraging partnerships such as the one with Indian battery maker Exide Industries to localize battery cell production and ensure competitive pricing for EVs.
