Hyundai to invest over Rs. 3,200 crore in India

The fresh investment will help Hyundai expand its product portfolio which will include a range of electric cars.

Hyundai plans to invest more than Rs. 3,200 crore in India in the next 4 years. The fresh investment will help Hyundai expand its product portfolio which will include a range of electric cars. 

Rs. 1,000 crore will be allotted to develop an affordable electric car. Hyundai and Kia could work closely to develop the new EV for the Indian market. It is rumoured to be a compact crossover which will be manufactured locally. It is said that the company is still in the process of finalizing its localisation plans.

At present, Hyundai's sole all-electric offering is the Kona Electric. It uses a 39.2 kWh battery that powers an electric motor that has an output of 134 BHP and 395 Nm of torque. It has four driving modes - Eco, Eco+, Comfort and Sport and comes with paddle shifters for adjusting regenerative braking. The claimed 0-100 km/h acceleration time is 9.7 seconds.

Source: ET Auto