As part of its ambitious push to solidify its position in one of the world’s fastest-growing automotive markets, Hyundai Motor India Ltd (HMIL) has unveiled a comprehensive roadmap for 2030. This strategy not only emphasizes portfolio expansion but also places a heavy focus on electrification, with the recent confirmation of a new affordable electric vehicle (EV) tailored exclusively for Indian consumers. Dubbed under the ethos of “India EV Accessible For All,” this compact SUV EV promises to democratize green mobility. Let’s dive deeper into what this means for Hyundai and Indian buyers.
A $5 Billion Commitment to India’s Future
Hyundai’s 2030 vision for India is nothing short of transformative. The South Korean giant has pledged a staggering $5 billion (approximately ₹45,000 crore) investment in the country by the end of the decade, marking its most aggressive growth blueprint yet. This capital infusion—split roughly 60% toward product development and R&D, and 40% for capacity upgrades—builds on the company’s existing $6 billion outlay since entering India in 1996. The goal? To elevate India from its current third-largest market status to Hyundai’s second-largest global hub, targeting over 15% domestic market share and ₹1 lakh crore in annual revenue by FY30, all while maintaining healthy 11-14% EBITDA margins.
Central to this roadmap are 26 new product launches, including a mix of internal combustion engine (ICE) vehicles, hybrids, and EVs. Electrification takes center stage, with Hyundai aiming for 55% of its global sales to be electrified (including hybrids and plug-in hybrids) by 2030, and pure EVs comprising 15-17% of the mix. In India, all future Hyundai EVs will be manufactured locally to leverage cost advantages, policy incentives like the 5% GST on EVs (versus 40% on hybrids), and a burgeoning charging infrastructure supported by advancements in nuclear and thorium-based energy. This “core pillar” approach underscores Hyundai’s confidence in India’s engineering talent and cost-competitiveness, positioning the nation as a launchpad for global exports.
The Star of the Show: A Homegrown Compact SUV EV
Launching an affordable EV in India is no small feat. The market demands a delicate equilibrium—packing premium features into a sub-₹20 lakh price tag while navigating supply chain hurdles, battery costs, and consumer skepticism toward range anxiety. Yet, Hyundai, renowned for its space-efficient packaging in hits like the Creta and Venue, is uniquely equipped to tackle this. The company has officially greenlit a compact SUV EV, codenamed HE1i, designed and engineered entirely in India for local tastes.This sub-4-meter B-segment contender—think Venue-sized but fully electric—will roll out from Hyundai’s Sriperumbudur plant in Tamil Nadu, emphasizing high localization to keep prices competitive. Partnering with Exide for indigenous batteries, the EV aligns perfectly with the “Accessible For All” mantra, aiming to undercut rivals like the Tata Punch EV while offering urban-friendly dimensions and SUV stance.
Expected to hit showrooms in late 2026 or early 2027, the HE1i will ride on Hyundai’s global E-GMP (K) platform, the same affordable architecture underpinning the Inster sub-compact EV. Design cues may draw inspiration from the playful Insteroid concept—a gaming-infused, one-off prototype unveiled in April 2025 that amps up the Inster’s funky aesthetics with motorsport flair, pixelated LEDs, and a drift mode for that extra thrill. While the Insteroid is purely for show (and smiles), it hints at Hyundai’s youthful, customizable vibe that could trickle into the production model’s bold styling: sleek lines, a modern grille, and practical SUV proportions adapted for Indian roads.
Under the hood, buyers can choose between two battery packs—a 42kWh standard-range unit paired with a 97hp motor, or a 49kWh long-range option with 115hp—delivering estimated real-world ranges of 300-350km. That’s ample for city commutes and weekend getaways, especially with India’s improving fast-charging network.Feature-wise, expect Hyundai’s signature tech smarts: a Level 2 ADAS suite for semi-autonomous driving (think adaptive cruise control and lane-keeping), dual 10.25-inch displays for instrumentation and infotainment with over-the-air (OTA) updates, a 360-degree camera, wireless charging, ambient lighting, and ventilated seats in higher trims. Eco-conscious touches, like recycled interiors, could nod to sustainability, while connectivity features ensure seamless integration with smartphones.
Pricing? Hyundai is eyeing mass-market appeal, starting under ₹10 lakh (ex-showroom) for the base variant and climbing to around ₹18 lakh for loaded models. This positions it as a direct challenger to budget EVs from Tata, Mahindra, and MG, potentially capturing first-time EV buyers in tier-2 and tier-3 cities.
Why This Matters: Bridging the Affordability Gap
India’s EV adoption, while accelerating, hovers below 5% of total sales, held back by high upfront costs and infrastructure woes. Hyundai’s localized approach—slashing import duties and leveraging PLI (Production Linked Incentive) schemes—could tip the scales. By producing in-house and scaling to 1.5 lakh units annually at expanded facilities like Pune, Hyundai aims to drive volumes and profitability, all while aligning with national goals for 30% EV penetration by 2030.Critics might point to intensifying competition, but Hyundai’s track record speaks volumes: it commands 14% market share despite a dip, and its hybrids/EVs have shown strong uptake thanks to lower running costs (₹1-2 per km versus ₹8-10 for petrol). The HE1i isn’t just another model; it’s a statement of intent—making electric mobility as accessible as a morning chai run.
As Hyundai charges toward 2030, this affordable EV could be the spark that ignites a greener, more connected India. Watch this space; the road ahead looks electrifying.
