• EV penetration growth: Electric vehicle penetration in India expanded from 2.4%–2.5% about 1.5 years ago to 7% in July, propelled by new model launches across various price points.
• Charging infrastructure expansion: The government’s PM E-Drive scheme is prioritizing charging infrastructure over direct subsidies, and Hyundai has enabled access to 30,000 nationwide charging points via its MyHyundai app.
• Local cell manufacturing: Hyundai has partnered with and invested in domestic manufacturer Exide to produce battery cells locally for its upcoming electric vehicles.
• Upcoming SUV launch: Hyundai plans to launch an aggressively priced, India-specific sub-4 meter electric SUV within the current fiscal year.