Hyundai Motor India (HMI), one of the leading players in the Indian automotive market, is gearing up for a major expansion of its electric vehicle (EV) portfolio. The company has announced plans to grow its Battery Electric Vehicle (BEV) line-up to five models by 2030, marking a strong step toward deeper participation in India’s rapidly evolving electrification landscape. The announcement was part of Hyundai’s future roadmap shared during its recent Investor Day.
At present, Hyundai offers two electric models in India: the premium IONIQ 5 and the newly launched Creta Electric. The upcoming expansion will add three new EVs across different market segments, designed to appeal to a broader customer base.
Key Takeaways
- Hyundai aims to have a five-model EV line-up in India by 2030.
- The current models are the IONIQ 5 and the Creta Electric.
- The next EV launch will be an affordable, highly localized compact SUV (codename ‘HE1i’), positioned to rival the Tata Punch.ev.
- The new model is expected to debut around 2026 or 2027 and will use LFP battery cells sourced from Exide Energy.
- Hyundai will also introduce eight hybrid models in India by 2030, reinforcing a dual-pronged approach to electrification.
New Budget EV to Bolster Mass Market Presence
Perhaps the most important piece of this plan is Hyundai’s upcoming compact budget EV, codenamed ‘HE1i’. Expected to hit the market around 2026 or 2027, this model will target the mass-market segment directly. It’s designed to compete with popular small electric SUVs like the Tata Punch.ev and could become a turning point for Hyundai’s EV presence in India, especially in the affordable category where the brand has been relatively underrepresented.
The ‘HE1i’ will be built with a high level of localization, including the battery cells. Hyundai has tied up with Exide Energy for the local manufacturing of Lithium Iron Phosphate (LFP) prismatic batteries. By producing components domestically, down to the cell level, Hyundai aims to achieve competitive pricing for this crucial model. The compact SUV will likely come in both Standard Range and Long-Range variants and feature Level 2 Advanced Driver Assistance Systems (ADAS), which should add value in its segment.
The Five-Model Strategy
By 2030, Hyundai’s EV portfolio in India is expected to include the existing IONIQ 5 and Creta Electric, along with three new models. While the ‘HE1i’ is confirmed, the other two new EVs are still under evaluation. Industry sources suggest Hyundai may develop electric versions of some of its popular mass-market models, possibly including the next-generation Venue or Bayon, to round out its five-model line-up.
This strategy reflects Hyundai’s intent to balance innovation with accessibility. The brand will continue to use its advanced E-GMP (Electric-Global Modular Platform) for high-end models while introducing highly localized platforms for affordable EVs, ensuring it caters to a wide spectrum of buyers and budgets.
Investing in the Future
The expansion of Hyundai’s EV range is part of a broader $5.1 billion investment plan by the Hyundai Motor Group in India by 2030. Much of this investment will go toward research and development, expanding manufacturing capacity, and strengthening its electrification efforts. A new multi-model manufacturing facility in Pune is also in the works, signaling Hyundai’s long-term commitment to the Indian market.
Interestingly, Hyundai is not putting all its eggs in the pure EV basket. The company has also announced plans to roll out eight hybrid models by 2030. This combined strategy of BEVs and Hybrid Electric Vehicles (HEVs) is expected to result in an “eco-friendly” product mix of around 52 percent by the end of the decade. It’s a thoughtful approach, especially considering India’s varied charging infrastructure and consumer readiness levels.
To support this shift, Hyundai will also expand its charging network to over 600 fast-charging stations across its dealerships and highways by 2032.
In essence, Hyundai’s vision for the Indian market goes beyond just selling more electric cars. It’s about creating an ecosystem that makes sustainable mobility practical, accessible, and desirable for a broad range of consumers. And while 2030 might seem a bit far off, it’s clear the groundwork is already being laid, one electric model at a time.
Frequently Asked Questions
Q1. What are the five Hyundai EV models coming to India?
A. The confirmed models are the IONIQ 5 and Creta Electric. The third confirmed model is a new localized compact SUV (codename ‘HE1i’) launching around 2026/2027. The final two models have not been officially named but are expected to be new electric variants of current popular Hyundai segments like the Venue or Bayon.
Q2. When is the Hyundai budget EV expected to launch in India?
A. Hyundai plans to launch its new mass-market, budget compact electric SUV, the ‘HE1i,’ in India sometime around 2026 or 2027. This vehicle is designed to compete in the sub-four-meter space.
Q3. How is Hyundai making its new budget EV more affordable?
A. The upcoming budget EV, ‘HE1i,’ will be made affordable through high levels of localization in India, including the use of locally manufactured LFP (Lithium Iron Phosphate) battery cells sourced through a partnership with Exide Energy. This localization reduces import costs, allowing for competitive pricing.
Q4. Besides EVs, what other electrified vehicles is Hyundai focusing on in India?
A. Hyundai is pursuing a dual strategy. In addition to expanding its EV line-up to five models, the company also plans to launch eight hybrid models (Hybrid Electric Vehicles or HEVs) in India by 2030 to offer consumers a broader choice of eco-friendly vehicles.
Q5. Will Hyundai be setting up its own EV charging network?
A. Yes, Hyundai plans to expand its charging infrastructure to include more than 600 fast charging stations across its dealerships, strategic locations, and major highways in India by 2032.
