South Korean carmaker Hyundai has reportedly decided to shelve plans to introduce hybrid models in India due to steep levies for hybrid cars under the new GST tax regime. Instead, the company may go full force in bringing full electric vehicles in India.
In the GST regime that kicked off from July, the lowest duty (in automobiles category) of 12 percent has been awarded for electric cars. It looks like Hyundai want to be the leader in the EV space of the country and a feasibility study on a mini electric SUV is already on.
If the mini e-SUV is found suitable for Indian condition, Hyundai plans to launch the vehicle in mid-2018, reports Times of India. "Electric cars are a focus for us. We have to go by the government's policy and norms," Hyundai India MD Y K Koo told the publication.
Hyundai's plans to embrace EV future will not stop there. The report also claims electrically powered version of the Grand i10 and i20 hatchbacks are also in the radar. "It's better to implement electric cars on lower-segment products. For example, the Grand i10 and i20 ... Small cars are more convenient, more easy, and more practical for electric than bigger-sized vehicles when it comes to the Indian market," Koo added.
No further detail on the e-SUV is available at the moment. However, Koo said "Hyundai has the electric technology globally. We will consider the next course of action only after completion of the feasibility study."
Earlier this year, Government of India's NITI Aayog expressed plans of going for all-electric car by 2030 with an express objective of lowering fuel import bill and running cost of vehicles. Post announcement, many carmakers that include India's only EV brand, Mahindra Electric bolstering investment in future cars. Tata Motors is also inching closer to the debut of Tiago electric version.
Source: TOI
