Hyundai to introduce 8 new models in India by 2020

Hyundai is planning to introduce 8 new models in India by the year 2020. The company will be investing Rs. 5,000 crore in the development and introduction of these new models, as part of its aim to strengthen its hold on the Indian passenger car market. This information was revealed through an interview of Y.K. Koo, Managing Director and CEO of Hyundai Motor India.

Out of the eight new models, three will be launched in a new segment. This will include the Ioniq hybrid, which is expected to be introduced at the 2018 Auto Expo. The company is also working on a compact SUV based on the Carlino concept that was showcased at last year's auto expo. Reports also suggest a new budget hatchback and a micro-SUV under works.

Hyundai is further planning to introduce mild-hybrid technology in its popular cars. Though the government has withdrawn subsidies from mild-hybrid vehicles under the FAME India scheme, there are various other incentives available for this technology, including a lower excise tax slab. Hence, Hyundai will likely stick to its plans of introducing mild-hybrid technologies in models like the Verna and Creta.

The company appears to have also acknowledged the fact that Indian customers have shown immense interest in the AMT (automated manual transmission). As a result, Hyundai will soon be developing its own AMTs in India. This will be done to provide a low-cost and efficient transmission option to customers, especially in the budget segment cars.

Source: Autocar India