Hyundai will install 600 fast charging stations for electric vehicles in the country

Hyundai Motor, one of the major automobile companies, has announced the installation of 600 fast charging stations for Electric Vehicles (EV) in India. These charging stations will be installed near highways and in big cities. To rapidly expand the number of EVs, it is important to have robust charging infrastructure.

Hyundai, which recently got listed on the stock market in India, has signed an agreement with the state government to set up around 100 EV charging stations in Tamil Nadu by 2027. Hyundai and its sister firm Kia have partnered with Exide Industries to increase localization in their electric vehicles. Under this, indigenously made batteries will be used in electric cars of Hyundai and Kia.

Hyundai ranks second after Maruti Suzuki in the country’s automobile market. Tata Motors and Mahindra & Mahindra have invested a lot in the EV segment. Hyundai has also planned to invest about $2.4 billion to increase its share in this rapidly growing market. The company is also preparing to start its second plant next year. This will help Hyundai to meet the demand for EV and other vehicles. Electric vehicles are also being promoted by the Central Government and State Governments. For this, some measures have been taken including giving subsidy.

Preparations are being made to launch the electric version of the company’s widely sold SUV Creta. Earlier, Hyundai had discontinued its first electric vehicle Kona in the country. The company has said that it will launch its new electric vehicle early next year. This will be the electric version of Creta. Hyundai plans to launch four EVs in the country. Recently Creta sales had crossed 10 lakh units. This first SUV of the company was launched in the country about nine years ago. Despite many models being launched in this segment, Creta has received good response. Hyundai also plans to create a local supply chain for critical components of the EV.