During a recent visit to their offices in India, the senior management of the Hyundai Motor Group, based in Korea, shared information about the brand’s future plans in the nation, particularly with regard to electric vehicles, i.e., Creta EV. However, the automaker stated that by the end of 2024, it will start producing in large quantities its first highly customized electric SUV at the Chennai facility. Although the company hasn’t disclosed the model, there are strong indications that it will be the Hyundai Creta EV. Our conjecture stems from the fact that the automaker has started testing the electric SUV in its native nation and that some test mules have also been seen driving in our country.
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The First Highly Localized EV from Hyundai
With the 2019 release of the Kona Electric, Hyundai became the first mass-market brand in India to provide an electric SUV that was reasonably priced. It was still too expensive for the majority of people, though, even though it was partly imported and locally assembled. Hyundai first announced intentions for a highly localized EV in India back in 2021, with six EVs in the portfolio by 2028, in response to the Tata Nexon EV’s popularity. The inclusion of electric vehicle (EV) equivalents to the brand’s well-received internal combustion engine (ICE) vehicles was anticipated.
We anticipated that Hyundai would compete with Tata, which has been successful in the sub-4 million dollar range with its electric SUV offering, by introducing a Venue EV at a price point that would be comparable. But, it made more sense for Hyundai to concentrate on the market it has dominated for years—the compact SUV market—given that there was no tax incentive for EVs limited to those dimensions.
An Obvious Information: Creta EV for India
Even with its most recent declaration that it will produce an electric SUV domestically in India, Hyundai has not revealed the model name. Nonetheless, based on the information gathered from spy photos taken in Korea and India, it is highly likely that the Hyundai Creta will only be available as an electric vehicle.
Hyundai chose the Creta over the Venue for its first locally adapted EV in India for a number of reasons. First off, although costing more than the sub-4 million SUV, the Creta brand has a larger and more devoted fan base than the Venue. It also sells more units. Since the “Creta” brand has been available in our market for about ten years, the automaker has sold over ten lakh units of the SUV, making it a popular choice among consumers.
It would have been much more difficult for Hyundai to launch its sub-4m electric SUV at a competitive price since the Tata Nexon EV has already cornered the market for an electric SUV under Rs 15 lakh. But, Hyundai will be able to take on its mass-market competitors head-to-head by concentrating on the electric compact SUV segment with the Creta EV. With the launch of the Maruti eVX by year’s end and the Tata Curvv EV by the end of this one, this segment is also expected to grow over the following 12 months. Citroen will even release a small electric vehicle at this time.
The ICE-powered Creta EV will also benefit from the recent comprehensive revamp of the ICE-powered model, which includes plenty of premium amenities and modern styling. As a result, consumers will only notice a slight change in the electric engine.
Anticipated Electric Drivetrain
The Creta EV is expected to have a claimed range of well over 400 km, even if the specifics of its electric engine and battery pack are still to be established. Like many other Hyundai EV models worldwide and several of its EV competitors in India, it might also come with a variety of battery pack options.
The majority of forthcoming Hyundai EVs, including the Ioniq 5, are not anticipated to be built on the same E-GMP platform as this Hyundai EV.
What Would the Price Be?
The initial price of the Hyundai Creta EV may be Rs 20 lakh (ex-showroom). The Creta EV will compete with the MG ZS EV and offer a high-end substitute for the Mahindra XUV400 and Tata Nexon EV. The previously stated Tata Curvv EV, which is scheduled to launch in the first half of 2024, and the Maruti eVX, which is anticipated to launch in early 2025, are the upcoming competitors.
More domestically produced Hyundai EVs will come after the Creta EV; the company has stated that it intends to produce five more EV models in India by 2030.
