Hyundai Motor Company, at its first CEO Investor Day, outlined its long-term development strategy under Vision 2030, with India playing a central role. Among the key announcements, the automaker revealed plans to launch its first locally designed electric vehicle for India by 2030.

Hyundai’s Upcoming EV for India

Currently, Hyundai’s EV portfolio in India includes the Creta Electric, its first mass-market electric SUV. However, the upcoming locally designed EV will be positioned in a more affordable segment, directly competing with entry-level models like the Tata Punch EV and MG Comet/Windsor.

The company emphasized that this EV will be developed specifically for Indian driving conditions and will leverage the local supply chain to ensure cost efficiency.

Expansion of Production in India

Hyundai also announced an expansion of its Pune plant, targeting an annual production capacity of 2.5 lakh units by 2030. This will further strengthen India’s role as an export hub. Globally, Hyundai plans to add 1.2 million units of capacity in the next five years.

Global Targets Under Vision 2030

• Sales target: 5.55 million vehicles by 2030

• Electrification goal: 3.3 million units (including 18+ hybrid models)

• New segments: Mid-size pickups and light commercial vehicles

• Future EVs: Starting 2027, Hyundai will roll out extended-range EVs with over 966 km range, bridging the gap between conventional and fully electric vehicles.

What’s Next for India

The small EV planned for India is expected to be Hyundai’s answer to the fast-growing entry-level EV segment, which is attracting first-time buyers and city commuters. This move reflects Hyundai’s aggressive approach in tapping into India’s high-volume EV market.