Hyundai Motor Company is expanding its product range and manufacturing capacity in India, targeting electrified vehicles to account for 50% of sales by 2030, compared with its estimate of around 30% for the overall Indian passenger vehicle market.

The strategy combines battery-electric vehicles (EVs), hybrids and other electrified powertrains with greater localisation, new SUVs and lower-cost technologies tailored to Indian market requirements.

"Electrified vehicles will account for half of our mix there by 2030, compared with 30% for the market as a whole," Jose Munoz, President and CEO of Hyundai Motor Company, said during the India section of the company's 2026 CEO Investor Day.

Hyundai has not specified the split between battery-electric vehicles, hybrids and other powertrains, but its roadmap includes five EVs and eight hybrid models by FY2030 as part of 26 product interventions through the end of the decade. These include new models, full-model changes, derivatives and product enhancements rather than 26 entirely new nameplates. The 2025 roadmap originally comprised 20 ICE/electrified combustion models and six EVs. Globally, Hyundai plans more than 100 launches and model refreshes through 2030, including 58 product interventions in North America, 49 in South Korea, 41 in Europe and 22 in China.

New India-focused electric SUV

Hyundai's immediate priorities include an all-new A-segment electric SUV developed and localised for India, scheduled to launch in the fourth quarter of 2026. The model could sit below or alongside the Creta Electric, depending on its final dimensions and positioning, and will feature a next-generation infotainment system and Level 2 advanced driver assistance technology. It will add a locally developed EV to Hyundai's Indian range, which currently includes the Creta Electric and Ioniq 5.

EV cost reduction and battery strategy

Hyundai's global EV programme targets a 30% reduction in EV material costs by 2030 through regionally optimised vehicles, lower-cost battery chemistries and next-generation motors, inverters and power electronics.

"For EVs, we will build economies of scale by strengthening regionally optimised line-ups, not only in advanced markets with models such as the Ioniq 3, our first EV designed for Europe, but also in emerging markets such as India, we will also expand the use of cost-effective batteries, including LFP, and develop next-generation motors and inverters. Through power electronics system development, we aim to reduce EV material costs by 30% by 2030," Scott Lee, Executive Vice-President and Head of Finance at Hyundai Motor Company, said.

The company plans to use high-nickel batteries for performance-oriented vehicles, mid-nickel batteries for value-focused models and lithium iron phosphate (LFP) batteries for entry-level products and price-sensitive markets. Hyundai expects its mid-nickel battery to cost around 30% less than the high-nickel battery used in models such as the Ioniq 5 while offering greater energy density than LFP technology. Production vehicles with mid-nickel batteries are planned from the first half of 2027, with wider use across volume models from 2028.

Hyundai is also working to improve high-voltage battery serviceability and increase commonality across vehicle development, design and manufacturing to reduce lifecycle costs.

Hybrid expansion

Hyundai plans to introduce eight hybrid models in India by FY2030, led by a new three-row SUV internally known as Ni1i. Expected to sit above the Alcazar and compete with models such as the Mahindra XUV700 and Tata Safari, the SUV will be manufactured at Hyundai's Pune plant and followed by the third-generation Creta, internally known as SX3, which is also being developed with a hybrid powertrain.

The new Creta is expected to be offered with petrol, diesel and petrol-hybrid powertrains, while the Creta Electric will remain a separate model line. Hyundai is also developing a locally manufactured 1.2-litre turbo-petrol engine that could support more affordable hybrid applications in compact and midsize models as fuel-efficiency regulations become stricter.

Hyundai's international hybrid strategy includes the next-generation Tucson and Tucson Hybrid, which are scheduled to reach initial global markets in the fourth quarter of 2026. India launch timing for the next-generation model has not been confirmed.

Globally, Hyundai aims for electrified vehicles to represent 60% of sales by 2030, compared with 23% in 2025.

New ICE SUV

Hyundai will continue offering combustion-engine vehicles in India and has confirmed a new ICE-powered midsize SUV, although its name, dimensions and launch timing have not been announced. The model could target an underserved body style or price segment as part of Hyundai's strategy of addressing "white spaces", which it estimates account for around 29% of automotive sales globally. It would complement the Exter, Venue, Creta and Alcazar.

Manufacturing expansion and localisation

Hyundai's product expansion will be supported by additional manufacturing capacity. Globally, the company plans to add 1.27 million units of annual production capacity by 2030, including 500,000 units in North America, 320,000 units in India, 250,000 units through CKD operations and 200,000 units in South Korea. India therefore accounts for roughly one-quarter of the planned global expansion, with total Indian capacity expected to reach around 1.1 million vehicles annually.

The expansion follows Hyundai's acquisition and commissioning of the former General Motors manufacturing facility at Talegaon in Maharashtra, complementing its Chennai operations. Hyundai also aims to increase local sourcing to approximately 90% of vehicle content in India by 2030. It currently works with more than 1,400 local suppliers and has more than 900 engineers in India supporting product development and localisation. Greater local sourcing will be particularly important for EVs, where battery packs, electric motors, power electronics and related components account for a significant share of manufacturing costs, allowing Hyundai to develop vehicles around Indian price points rather than relying heavily on imported technologies.

India as an export hub

Hyundai expects around 30% of vehicles produced in India to be exported by 2030, primarily to the Middle East, Africa, Asia and South America. This will increase India's role as a manufacturing and export base for vehicles designed for emerging markets, with the India-focused electric SUV potentially contributing to the strategy.

Genesis expansion

Hyundai has indicated that its luxury Genesis brand is expected to expand into India and other Asia-Pacific markets in the future. Genesis is preparing a global product programme including new hybrid and extended-range electric vehicles and the flagship GV90 electric SUV. Hyundai is targeting annual Genesis sales of 350,000 vehicles across more than 40 markets by 2030, although timing and the India-specific product line-up have not been confirmed.

Rs. 45 billion India investment

The expansion forms part of Hyundai Motor India's planned investment of approximately Rs. 45 billion (US$ 471.4 million) between FY2026 and FY2030, covering manufacturing expansion, electrification, future mobility technologies and the 26-product programme. Hyundai has already invested more than Rs. 40 billion in India during its three decades of operations.

The India strategy supports Hyundai Motor Company's broader target of selling 5.55 million vehicles annually by 2030, equivalent to around 6% of the global market, while achieving an operating profit margin of more than 9% by the end of the decade. The company sold around two million wholesale vehicles during the first half of 2026 and generated revenue of approximately 95.2 trillion won (US$ 68.9 billion).

The planned five EVs, eight hybrid models, India-specific compact electric SUV, new ICE midsize SUV, regionally optimised products, lower-cost battery technologies, increased local sourcing and expanded manufacturing capacity are expected to support Hyundai's target of electrified vehicles accounting for 50% of its Indian sales by 2030.