Automakers are scrambling to accelerate their EV strategies after the unexpected surge in EVs, no doubt sparked by high fuel prices and attractive subsidies. Tata Motors, which has a 70 per cent market share in a small segment, and MG Motor, a distant second place, are the only two companies to profit from this rise.
Now, Hyundai has revealed its plans to embark on an extensive electrification journey, as the company anticipates a 53 per cent increase in EV sales by 2028. A total of six Battery Electric Vehicles (BEV) will be included in the project, covering a variety of segments and body styles such as sedans and SUVs.
In India, Hyundai currently only offers the Kona Electric SUV. The Korean automaker will create a new platform called E-GMP. It stands for Electric Global Modular Platform. These new platforms will serve as the foundation for the next generation of electric vehicles.
The iONIQ 5 will be based on the E-GMP platform, which will include a vehicle chassis, battery, motor, and power electric system. It will have scalable dimensions to accommodate different body types, as well as a flat floor, sleek cockpit, and spacious cabin.
The platform will accommodate a wide range of body types and sizes. As a result, Hyundai will be able to use it to create compact sedans, compact SUVs, SUVs, compact SUVs, and possibly a small micro SUV.
As a result, there is a possibility that the company may begin its ICE-to-EV transition with vehicles such as the Venue or even the Creta. The Tata Nexon EV is currently the best-selling electric vehicle in the segment. When it is released, the Hyundai Venue electric SUV will be a direct competitor to the Nexon EV.