Hyundai Set to Launch Ioniq P EV in India by 2027
Hyundai plans to introduce its new sub-4m electric vehicle, the Ioniq P, at the Bharat Auto Expo in 2027, targeting the growing EV market.
Hyundai's Ioniq P will compete with Tata Punch EV and others.
The new EV is expected to feature two battery options and advanced technology.
Hyundai aims to enhance its market share in India's rapidly expanding electric vehicle segment.
Hyundai Motor Company is gearing up to launch its new electric vehicle, tentatively named Ioniq P, in India by 2027. This announcement comes as part of the company's strategy to strengthen its presence in the burgeoning electric vehicle market. The Ioniq P is expected to be unveiled at the Bharat Auto Expo, where it will be positioned as a competitor to the Tata Punch EV, among others.
The Ioniq P is part of Hyundai's broader initiative to electrify its vehicle lineup. During a recent earnings call, company officials indicated that this model would follow the recently launched Bayon. While the name Ioniq P has not been officially confirmed, Hyundai has trademarked the name in India, suggesting a strong likelihood of its use for this new sub-4m electric vehicle, which is currently referred to internally as HE1i.
Hyundai's new electric model is expected to come with two battery pack options, likely similar to those found in the Inster EV, which is sold globally. The available configurations may include a 42 kWh and a 49 kWh battery, with a certified range of up to 355 km. The company plans to implement significant localization in the manufacturing process at its facility in Sriperumbudur, Tamil Nadu, to maintain competitive pricing. Initially, imported battery cells will be utilized, with plans for local sourcing in the future.
As the Indian electric vehicle market continues to grow, Hyundai aims to increase its share, which currently remains in single digits despite being among the top 10 manufacturers in EV sales. The overall contribution of electric and hybrid vehicles to passenger vehicle sales in India has reached nearly 20%. By introducing the Ioniq P, Hyundai hopes to enhance its portfolio and cater to the rising demand for affordable electric vehicles in the country.
Looking ahead, the launch of the Ioniq P will be a significant step for Hyundai as it seeks to solidify its position in the competitive EV landscape. With other manufacturers like Maruti Suzuki and Honda also developing new mass-market electric vehicles, the upcoming years will be crucial for Hyundai as it navigates this evolving market and responds to consumer preferences for sustainable transportation options.
