Hyundai and Kia Are Bringing Their First Hybrid Vehicles to India

While many car manufacturers and governments around the world are fully committed to battery-electric vehicles, Hyundai in India is planning more moderate steps towards electrification with the introduction of its first local hybrid vehicles.

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Unnamed sources believe that the South Korean auto giant is exploring the possible launch of a hybrid SUV in the size of the Creta. Both Hyundai and Kia brands are understood to be working on hybrid SUVs in China and plan to launch them in 2026 or 2027.

Read: Kia confirms three new electric vehicles for India including Carens

As in other markets, Hyundai is seeing an increase in demand for hybrid vehicles in India. Therefore, the company wants to capitalize on this demand while further advancing its plans to introduce battery-electric vehicles in the world’s third-largest car market. The company sees its hybrids as a transition strategy and wants to “capture the Indian hybrid market,” according to a source who spoke to Reuters.

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“It has now started adapting this technology for cars in India to make it mainstream,” the source added.

Toyota has a 78% share of the hybrid market in India, followed by Maruti Suzuki with 20% and Honda Motor with a 2% share. Hybrid models accounted for about 2% of total Indian car sales in 2023, and while electric vehicles accounted for just over 2%, demand for hybrids has skyrocketed recently. This is despite the fact that they are hit with a domestic goods and services tax of 43%, compared to the 5% tax on electric vehicles.

Shin Yoon-chul, analyst at Kiwoon Securities, believes Hyundai and Kia can capture a significant share of the hybrid market in India. In a statement, Hyundai said it was “committed to the future of electrified mobility and will optimize product strategies for each market.”

While Hyundai is no longer solely focused on BEVs for India, it remains committed to them. The company is currently importing the Ioniq 5 and Kia EV6 into the country and plans to launch its first locally manufactured electric vehicles as early as 2025.

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