KIA partners with Hyundai to create low-cost electric vehicle for India
The Hyundai Motor Group company plans to launch four new models in India over the next two years, including its up-and-coming Seltos SUV, but the low-cost EV will be a separate project, according to the statement.
“We are still working on how to make an electric car at a low cost. I plan to develop an electric vehicle for the Indian market with Hyundai, ”said Han-Woo Pak, President and CEO of Kia Motors.
“We are ready to introduce an electric car in India, but it depends on the infrastructure and government support policy ... Currently, the cost of EV is very high, especially for the Indian market, and without government support it will be very difficult to sell EVs here,” Pak said. .
Last year, the Indian government adopted the FAME II program, which provides subsidies for two-wheeled vehicles, including their personal use. However, according to Pak, "it does not include four-wheelers for personal use."