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Hyundai is planning a major product offensive with the launch of nine models, including an electric vehicle, over the next three years.
The launches will include two face lifts, two new segment vehicles, four full model change and an electric vehicle during 2018-2020. This will involve development expenses of ₹6,000-6,500 crore during this period.
The two new segment models include a much-awaited small car positioned between the Eon and Grand i10 to be launched this year, and a sub-4 m compact SUV during the first half of 2019. The small car “ will be a contemporary, family-oriented car. We are yet to finalise the name though there is a strong suggestion to name it Santro,” Y K Koo, Managing Director & Chief Executive Officer, Hyundai Motor India, said here.
In 2018, there will be two face lifts, of which one (new 2019 Elite i20) has already been launched at Auto Expo and another will happen before June. Electric vehicles are also part of Hyundai India’s agenda and it is contemplating introducing an electric model during next year.
It is also analysing whether to introduce an electric sedan or SUV. The company showcased its electric sedan Ioniq in the Auto Expo 2018 and electric SUV Kona at the Geneva Motor Show earlier this month.
However, Koo pointed out that if the market survey that the company was doing revealed higher preference towards SUVs, it would work on launching an electric SUV instead of an electric sedan. While he admitted the eco-system in terms of infrastructure and charging stations for EV in India was evolving, Hyundai would explore the options of offering home charging tools.
With new launches in the anvil, the company is aiming to clock a total production and sale of more than 7 lakh units in 2018 (it produced and sold 6.78 lakh units in 2017). Of which, about 25 per cent will be exported.
For the next year, the company is planning to ramp up the production by 50,000 units, which will increase the total capacity of its Chennai plant to 7.5 lakh units.
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