Hyundai to invest Rs 20,000 crore in India; to install 100 EV chargers
In order to create an electric vehicle (EV) ecosystem, Hyundai Motor India has signed a Memorandum of Agreement (MoU) with the government of Tamil Nadu. The carmaker will invest Rs. 20,000 crore in the state over the period of 10 years in a phased manner. As a part of this, it will set up a battery assembly facility and EV charging stations.
Hyundai Motor India roadmap
To begin with, Hyundai will set up a dedicated EV battery pack assembly facility in Tamil Nadu. This plant will have an annual battery pack production capacity of 1.78 lakh units.
Since the brand's vehicle manufacturing plant is in the state, it will also invest to scale up this plant to increase its annual production capacity to 8.5 lakh units. With this, Hyundai aims to manufacture new ICE and electric vehicles from this plant.
Hyundai Motor India EV Chargers
On top of that, the South Korean automaker will set up 100 EV fast charging stations at key locations across major highways in a next few years. The 100 EV charging points will comprise five ultra-fast charging stations, including 150kW and 60kW, 10 ultra-fast charging stations equipped with 150 kW units, and 85 fast charging stations fitted with 60 kW chargers.
Hyundai's new EVs
Not only we expect, as a part of this long-term investment plan, Hyundai to develop mass market cars for emerging electric vehicle markets, such as India, but also to introduce its global products, such as the Ioniq 6 and Ioniq 7. It already sells the Kona Electric and all-new Ioniq 5 here. In fact, the brand plans to introduce about six EVs in India by 2028, including an ICE-based mass-market EV arriving by 2024. Under the Hyundai Motor Group, Kia India is also likely to launch several electric vehicles in India. It already sells the EV6 here, which has been a roaring success for the brand.
Hyundai Ioniq 5: Details
Powering the Ioniq 5 is a 72.6kWh battery pack linked to an electric motor capable of generating 219PS and 350Nm of peak torque. Notably, the India-spec Ioniq 5 is a rear-wheel drive, while it is also available in an all-wheel drive guise in some international markets. With this, the EV has an ARAI-certified driving range of 631km on a full charge. Hyundai claims that the Ioniq 5, with its 800V charging architecture, takes just 18 minutes to charge from 10 to 80 per cent using a 350kW ultra-fast DC charger.
It is to be noted that the Ioniq 5 has received over 650 bookings and Hyundai has already commenced its deliveries. The EV was launched at an introductory price of Rs 45.95 lakh (ex-showroom).
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