Hyundai is planning to introduce a mini electric car to India in the near future. The South Korean company has launched its premium cars in the market so far. “This vehicle happens to be an exception”, a Hyundai executive told Reuters.
This could be a good thing for Pakistan as well as it’s also a right-hand drive market and the small EV’s success in India would mean that Hyundai will consider launching it in Pakistan as well.
According to Hyundai’s Director of Sales, Marketing, and Service, the decision to launch the new small EV vehicle has caused quite a commotion at Hyundai India. Each of the departments is focusing on different challenges including the charging ecosystem, manufacturing, sales network, and assembly.
“We have to look for as much localization as possible”, added Director Tauron.
This holds true for Pakistan as well, as the lack of charging stations can be a problem, especially for inter-city travel.
The selling point of the new vehicle is its economy and value-for-money, so localization is the most crucial factor in the small EV’s success in the market.
The company hasn’t shared the launch date of the vehicle yet. When asked why Tauron said that the timing has to be right so we may be able to bring it at the right price.
“The ecosystem should be ready, we should have enough charging stations”, he justified.
He said that the EV is a small cog in Hyundai’s grander scheme of Rs. 40 billion investment ($512 million investment) into the Indian market, spanning the launch of six electric vehicles in India by 2028, pioneering a clean drive concept in some of the most polluted cities on Earth.
Currently, EVs have a less than 1% market share in India. Hyundai’s Vision 2028 is in line with the Indian government, which seeks to increase total electric vehicle sales to 30% by 2030, with the hope that this step will reduce emissions and import petroleum products.
With time, we can expect the market share of EVs to improve in Pakistan as well, depending on the launch of affordable electric cars in the country.