South Korea's Hyundai Motor that has a subsidiary in India on Tuesday said that the electrification of vehicles in India may be a right direction, but there needs to be more clarification from the government.
The government had recently announced to electrify 40 per cent of the fleets of shared mobility apps like Ola and Uber by 2026, in order to make the environment better.
Hyundai Motor India (HMIL) had recently announced to partner Ola in which it will be providing some of its models like the Xcent and Grand i10 as part of Ola's fleet.
"We have heard no official decision till now. It (electrification) is a right action, but the timing could be too early right now. We need more clarity and time to prepare for it...not only Hyundai, but everyone (other manufacturers) too require time for the preparation," Seon Seob Kim, Managing Director and Chief Executive Officer, HMIL told reporters here.
Kona EV launch
Meanwhile, the company will be launching its Kona EV next month in India, which is being assembled at its factory in Chennai. The company expects to sell around 100 vehicles in the first year, Kim said adding that since the economy of scale is not yet ready in India, production of the EVs will depend on the demand.
For the convenience of the buyers, Kim said the Kona will come with a home charger and there are charging infrastructure being set up at some of the dealers too.
He also said HMIL is not committed on the EV being developed for Ola or any other ride hailing app right now, but in future various projects under collaboration may occur. The company recently invested $300 million in Ola and also announced to lease some of its cars om lease in partnership with ALD Automotive India.
Globally, Hyundai has committed to bring out 38 cleaner vehicle solutions globally including hybrids, electric and fuel cell vehicles by 2030.
(The writer in in Korea on the invitation of Hyundai Motor India)