Hyundai Motors is set to make a significant move in the electric vehicle (EV) market with the launch of the Creta Electric SUV, marking its first major car release in the country since its stock market debut. After more than four years of research and development, the South Korean automaker is set to unveil a model that has been eagerly anticipated. Although official pricing has yet to be confirmed, CNBC-TV18 reported that sources suggest the Creta Electric will be priced below Rs 30 lakh, making it a competitive option in the rapidly expanding EV segment.
Industry expectations are high, with Hyundai aiming to sell at least 2,000 units per month in the initial phase. The company has signaled its intent to scale production based on market demand and response, positioning the Creta EV as a key player in the Indian market’s shift toward electric mobility.
In a conversation with CNBC-TV18 ahead of the launch, Hyundai India’s Chief Operating Officer, Tarun Garg, expressed optimism about the vehicle’s potential to address consumer concerns surrounding range anxiety and the evolving EV ecosystem. “Having sold over 1.1 million Creta SUVs in India, we believe the Creta EV will emerge as the symbol of electric SUVs. We want to be as strong in EVs as we are in ICE vehicles. So, if we have a 13-14% market share in SUVs, we would hope to achieve an even higher market share in EVs by 2030,” Garg said.
Hyundai’s strategy goes beyond the vehicle itself, focusing on a comprehensive charging infrastructure to support its customers. Garg highlighted that Hyundai’s in-car payment application would be compatible with over 1,100 charging points, and the My Hyundai app would allow users to access more than 10,000 charging stations nationwide. Additionally, Hyundai plans to deploy 80 fast-charging stations across 30 locations along highways to cater to long-distance travel needs, along with providing an 11kW home charger for customers.
Looking ahead, Garg expects 2026 to be a pivotal year for EV adoption in India, forecasting significant growth as mainstream Original Equipment Manufacturers (OEMs) ramp up EV production. They anticipate that EV volumes will double by the end of 2025, and by 2026, the electric vehicle market will experience substantial growth.
To date, Hyundai has sold over 4,000 electric vehicles in India, including the Kona Electric and the Ioniq. However, the Creta Electric will be the company’s first mass-market electric model in India. Garg confirmed that Hyundai plans to launch three additional electric vehicles by 2030, with a strategy that includes both derivatives of existing models and entirely new electric offerings across various price points.
The Indian government’s supportive policies and incentives for electric mobility have bolstered Hyundai’s commitment to the segment. Garg also noted that Hyundai’s established hybrid technology could quickly be leveraged in response to customer demand. “We already have hybrid technology at Hyundai, and we can bring it to market very quickly if there is customer demand,” he added.
In line with its long-term strategy, Hyundai plans to export the Creta Electric SUV to international markets once domestic demand is satisfied. The vehicle has been developed at the company’s Hyderabad facility, with a strong emphasis on localization. Additionally, the company has forged a collaboration with Exide for battery production. While lithium-ion battery cells are currently imported from LG’s Indonesian plant, Hyundai aims to localize battery cell production in the future, further strengthening its commitment to India’s EV ecosystem.