In August, Hyundai recorded its highest ever domestic sales for the month with 54,396 units sold, marking a 23.6 per cent Y-o-Y increase.
The Creta Electric currently anchors Hyundai’s mass-market electric portfolio, while the Ioniq 5 caters to the premium end.
IMAGE: Hyundai MD Unsoo Kim during the launch of ‘CRETA electric’ at Bharat Mobility Global Expo, in New Delhi. Photograph: Sanjay Sharma/ANI Photo
Key Points
Hyundai Motor India anticipates electric vehicles (EVs) will account for 7-8 per cent of its total sales in the upcoming financial year (FY25-26).
The company plans to expand its EV portfolio with new models, including a dedicated sub-4-metre EV, to drive growth in the competitive market.
Hyundai expects EVs, hybrids, and CNG vehicles to collectively contribute around 50 per cent of its sales by 2030, with roughly four-six models in each category.
The Creta Electric’s monthly sales have risen to approximately 1,000 units, and Hyundai is working to reduce its four-eight week waiting period.
Hyundai is focusing on charging infrastructure and battery-as-a-service to accelerate EV adoption, having enabled access to 37,000 charging points.
Hyundai Motor India expects electric vehicles (EVs) to account for 7-8 per cent of its sales next financial year as the automaker expands its electric portfolio with new models, including a dedicated sub-4-metre EV, company’s Managing Director and Chief Executive Officer (MD & CEO) Tarun Garg said on Thursday.
The company also expects EVs, hybrids, and compressed natural gas (CNG) vehicles to together account for around 50 per cent of its sales by 2030, he said.
Expanding EV Portfolio and Market Strategy
The company sold 584,906 vehicles in the domestic market in financial year 2025-26 (FY26), while its domestic sales grew 12.6 per cent year-on-year (Y-o-Y) during April-August of FY27.
In August, Hyundai recorded its highest ever domestic sales for the month with 54,396 units sold, marking a 23.6 per cent Y-o-Y increase.
The Creta Electric currently anchors Hyundai’s mass-market electric portfolio, while the Ioniq 5 caters to the premium end.
Monthly sales of the Creta Electric have increased to around 1,000 units from 400-500 units earlier.
Garg said demand for the Creta Electric was consistent rather than a temporary spike.
The company is also working to reduce the model’s waiting period, which currently ranges from around four-eight weeks.
Entering the Sub-4-Metre EV Segment
Hyundai is preparing to enter the sub-4-metre EV segment with a dedicated born-electric model, which Garg expects to provide another leg of growth.
The segment already includes high-selling electric models such as the Tata Punch EV and Nexon EV.
Competition in the broader electric passenger vehicle market has intensified, with an expanding range of models across price points.
Prominent electric cars include the MG Windsor, Tata Nexon EV and Punch EV, and Mahindra’s XEV 9e and BE 6.
IMAGE: Hyundai Ioniq 5. Photograph: Francis Mascarenhas/Reuters
Diverse Powertrain Strategy and Future Outlook
Hyundai’s EV expansion forms part of its broader strategy of keeping multiple powertrain options open.
Garg said the company expects EVs, hybrids, and CNG vehicles to together account for around 50 per cent of its sales by 2030, with the three technologies contributing broadly equally.
The company plans to offer roughly four-six models each across EVs, hybrids, and CNG by the end of the decade.
CNG, however, is expected to remain concentrated in vehicles priced below Rs 15 lakh.
The automaker is not rushing to introduce hybrids in India.
Garg said Hyundai has the technology but would introduce hybrid models only after achieving sufficient localisation to offer customers a competitive price proposition.
While consumer interest in hybrids is expected to be strong, affordability would ultimately determine their adoption, he said.
The strategy reflects differing powertrain preferences across vehicle segments.
Diesel continues to account for about 40 per cent of demand for the Creta, while CNG contributes around 18 per cent to Hyundai’s overall sales.
CNG penetration is particularly high in models such as the Aura and Grand i10 Nios.
Garg also identified charging infrastructure and battery-as-a-service offerings as potential catalysts for EV adoption.
Hyundai has enabled customer access to around 37,000 charging points through its MyHyundai app and has brought forward the expansion of its fast-charging network.
“With our upcoming models, the expectation is that by next fiscal, we should be touching an industry contribution of about 7-8 per cent for EVs, and the contribution of EVs to Hyundai’s own sales would also be close to 7-8 per cent,” Garg added.
Feature Presentation: Rajesh Alva/Rediff