According to three sources, Hyundai Motor Group intends to introduce its first hybrid Car in India as early as 2026. This move is part of the South Korean automaker’s ambition to expand beyond electric vehicles and increase its market share in a significant auto market.
According to two people with firsthand knowledge of the plans, the group that owns Hyundai Motor and Kia is now testing a hybrid sport-utility vehicle that would be sized like its best-selling mid-sized Creta SUV in India.
According to the two sources, Hyundai, the second-largest carmaker in India, and Kia want to introduce hybrid SUVs in 2026 or 2027. They also stated that their electric vehicle (EV) preparations for the country are proceeding as planned.
The Hyundai Motor Group said in a statement to Reuters that it is “committed to a future of electrified mobility and will optimize product strategies for each market”.
Hyundai is moving away from its initial strategy of concentrating primarily on battery electric vehicles as a result of a spike in sales of the technology in India. Hybrids, on the other hand, combine an electric motor and gasoline powertrain.
Hyundai and Kia, currently selling traditional fuel cars and imported EVs, plan to debut locally manufactured EVs in India by 2025.
However, the corporation turned to hybrids as a “interim strategy” because EV sales have been slow to pick up due to high prices and limited charging infrastructure, according to one of the people.
In other markets, Hyundai is the provider of hybrid technology. Rising demand for hybrids led to action, with efforts underway to adapt the technology for Indian cars to make it mainstream.
In 2023, India sold over 4 million cars, with electric vehicles accounting for over 2 percent of the total.. With a 2 percent share, hybrids, led by Toyota Motor, are getting closer.
Hyundai, selling Russian plants, cutting China production due to losses, shifts focus to India, planning a $3 billion IPO launch.
Hyundai Motor Group Executive Chair Euisun Chung discussed EV and hybrid plans during his second visit to India last week.
After South Korea and the US, Hyundai’s three largest revenue-generating markets are India and the US.