Hyundai to deal with electrification, autonomous, linked applied sciences to gas development in India3 min read
Bullish on the long-term development prospects of the Indian auto trade, South Korean auto main Hyundai goals to deal with numerous features like electrification, linked options and autonomous know-how as a part of its future product technique within the nation, as per a prime firm official.
The automaker, which has accomplished 25 years within the Indian market with over USD 4 billion funding to date, additionally plans to boost digitisation throughout its all enterprise verticals and deal with mobility providers like subscription, hailing and sharing verticals to gas future development within the nation going forward.
“As an OEM, we are preparing various steps for the market depending upon the market dynamics. We will continue to bring in advanced technologies and models in this market,” Hyundai Motor India Ltd (HMIL) MD and CEO SS Kim advised reporters in an interplay.
He famous that buyer comfort remained on the centre of its enterprise plans.
“Mobility services, electrification, connected features and autonomous technology will define our future direction in the country,” Kim mentioned.
Elaborating on the corporate’s plans concerning the electrical automobile section, he mentioned it remained the automaker’s “number one priority”.
“As we are aware that electrification is one of the top priorities of the Indian government, so we strongly believe that it is our responsibility as well to move in that direction… We have proven technology in this vertical so we are reviewing technologies and products that would be best for the Indian customers,” Kim famous.
He famous that there was no delay within the improvement means of the low-cost EV, which it plans to launch within the nation within the subsequent 2-3 years.
When requested concerning the home gross sales situation, Kim famous that it could take the trade 2-3 years to achieve again to the pre-COVID quantity ranges.
He mentioned that uncertainties nonetheless prevailed out there and due to this fact it was unsure to foretell the long run.
He famous that the corporate remained optimistic concerning the long-term development prospects of the Indian auto trade.
“We are quite positive about Indian market because of low penetration of vehicles as compared with other countries. Besides the government is investing huge amounts on infrastructure development so we believe that in 2-3 years we could reach to the pre-COVID levels. We are cautiously optimistic,” Kim mentioned.
He mentioned that pent up demand for private autos continues to be there out there.
“The pent up demand is still alive and we expect it to continue up to the first half of this year,” Kim famous.
When requested concerning the influence on the corporate because of the scarcity of essential elements like semiconductors, he mentioned: “It is not an OEM issue, it is an industry issue. I can say that we are closely collaborating with our vendors to come up with a solution and also maintain some consistency in terms of operations.”
Every Original Equipment Manufacturer (OEM) is impacted to some extent and HMIL is attempting its finest to regulate the scenario, Kim famous.
On including extra capability within the nation, he mentioned that the corporate’s present manufacturing capabilities have been sufficient for 2-3 years to handle the demand within the home in addition to export markets.
“We are very carefully watching the market situation; we are very closely monitoring it. If we come to the conclusion that we should take some immediate steps we will do that,” Kim famous.
With minor tweaks within the manufacturing strains, the capability may very well be stretched to eight lakh models from the 7.5 lakh models every year at present at its Chennai-based manufacturing services, he mentioned.
Hyundai had launched its first mannequin – Santro, within the nation in September 1998. The automaker stays the main exporter of the passenger automobiles from the nation.
Powered by excessive promoting fashions like Creta and Venue, the corporate recorded its highest ever market share final 12 months within the home passenger automobile section.