Hyundai plans to locally source EV components in India

Hyundai plans to locally source EV components in India

–  Hyundai is awaiting government policy to drive in hybrid models in India.

–  Looking at various options for sourcing electric vehicle (EV) components in India, including local manufacturing.

Hyundai India is reportedly looking at options for sourcing electric vehicle (EV) components in India, including local manufacturing of battery parts. Apart from that, the Korean carmaker is awaiting government policy to drive in hybrid models in the country.

The carmaker plans to bring in the all-electric Kona to India which will be locally built at their Chennai facility. Hyundai Motor Company (HMC) is contacting suppliers in India for battery components, according to reports. The plan is to drive in the first EV in a complete knock-down (CKD) form in the country later this year.

Talking about the carmaker’s plans for locally manufacturing EV batteries, S S Kim, MD and CEO for HMIL, said, “We are studying various options, not only us (HMIL) in India, but even Hyundai Motor Company (HMC) procurement division is looking at it”.  Kim believes that government support is critical for the growth of EVs in the personal mobility space. When talking about launching hybrid vehicles in the country, Kim said the company will take a decision after further policy clarity on the segment from the government.

With the government pushing for local manufacturing of electric vehicle components, carmakers like Suzuki, Tata Motors and Mahindra are already pursuing EV manufacturing in the country. Suzuki Motor Corp, along with its partners, is already in the process of constructing lithium-ion battery manufacturing plant at Hansalpur in Gujarat. Under the FAME-II scheme, the government is primarily focusing on electrification of public transport with an outlay of Rs 10,000 crore.

[“source-timesofindia”]

Author: Ayaan