Hyundai Motor India is gearing up for its IPO. This IPO will be open for investments on October 15. In such a situation, the company has carried out comprehensive planning to achieve a successful IPO. In fact, the company may launch Creta Electric in the fourth quarter (January to March 2025) of this financial year. The company will expand its electrical portfolio with comprehensive planning. According to the ET report, Hyundai Motor India COO Tarun Garg and Managing Director Ansoo Kim have prepared a comprehensive strategy for the company’s expansion and development.
Creta is Hyundai’s most successful model. In the same year, the company launched its new model, which strengthened its position in the market. In September, the Creta was also the best-selling SUV in the country. Along with this, Hyundai also introduced the Creta N Line and Alcazar in recent months. Due to which the range of premium cars in India has also increased. The launch of the Creta EV today marks a significant milestone for Hyundai in the growing Indian electric vehicle (EV) market.
Demand for electric vehicles will increase by 2030
Hyundai Managing Director Ansoo Kim said, “India is in the early stages of electrification in terms of electric vehicles. We expect the Indian electric vehicle market to grow strongly by 2030 due to strong government initiatives and many OEMs’ focus on electric vehicles. battery technology, which also highlights Hyundai’s strategic focus on creating a local electric vehicle ecosystem in India, including batteries, drivetrains and other critical components. “This includes developing supply chains for components. » The Creta EV will be one of four new EV models that Hyundai plans to introduce in the mainstream and premium segments.
A new era will expand with the IPO
With its IPO, Hyundai Motor India is poised to enter a new era of expansion. Garg highlighted that the timing was ideal with India’s GDP growth consistently above the global average. The expansion of Hyundai’s Pune plant adds significant capacity. The company’s new facility will increase production by 250,000 units. This is an important part of Hyundai’s plan to strengthen its position in domestic and export markets.
Tarun Garg, COO of Hyundai Motor India, said, “If you look at Hyundai, we are now expanding the Pune plant, adding a capacity of 250,000 people. So we believe that the next phase of growth for Hyundai in India will be “This is the This is the right time for this phase. As we said, the IPO is perhaps a very good step for the next phase. »
The right time to bring Creta Electric
Hyundai’s SUVs contribute significantly to its sales. Creta, Venue and Exeter contribute 68% to the company’s total sales. This is well above the industry average. In such a situation, it is the right time to bring Creta EV. This will increase the company’s sales. Garg said, “We believe in quality development. Along with the quantity, the profits also increase. If you see, we have a very strong mix of domestic and export products. For the past 28 years, we have helped the people of India. We have received a lot of love and affection from India. We sincerely believe in the bond with India. »