Hyundai And Kia Plan To Start Local Assembly Of Electric Cars In India

The FAME 2 scheme has given electric mobility a shot in the arm and is a step in the right direction to make India a viable market for electric vehicles. Though the announcement has not given any special consideration to electric cars, the expansion plans of fast chargers and other infrastructure has garnered some interest among carmakers to take the Indian car market more seriously as far as electric cars are concerned. Maruti Suzuki is already gearing up to launch the electric WagonR next year and Hyundai group companies (Hyundai-Kia) also have said that it will start the local assembly of electric vehicles in India.

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According to a news report published by Times Of India, Hyundai and Kia Motors are finalising manufacturing plans of electric cars for our market. The Korean Carmakers are looking at the possibility of partnering with LG for batteries, while also evaluating other international suppliers for the same purpose. The top management of both companies are currently doing a feasibility study in India for sourcing local components and batteries and are understanding India-specific conditions. "One reason why I am here in India is to better understand what's going on in the electric space here," said Albert Biermann, President Of Hyundai Group's R&D division told TOI.

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Both Hyundai and Kia are evaluating international partners for supplies.

Speaking about local manufacturing of batteries, Biermann added. "We can import the technology, but when the market gets too competitive, we can also localize. We have a strong network of our sister companies and Korean suppliers. The Korean battery technology is leading across the world and we have strong partnerships, like with LG. So we can localize with those partners."

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carandbike has already reported that Hyundai will be launching the Kona Electric SUV in July this year and will be pricing it aggressively in a bid to make it an affordable alternative for mainstream car buyers.

Source: Times Of India