MUMBAI: 17th May 2025: Hyundai Motor India Ltd (HMIL), which had its lowest market share since FY13 at 14% in FY25, has announced strategic investments in its next-generation product portfolio, including the introduction of six new electric vehicles (EVs) and 20 new internal combustion engine (ICE) models by 2030.
Hyundai India is having a difficult time in the Indian automotive industry, falling to fourth place in wholesale shipments behind domestic rivals Mahindra & Mahindra and Tata Motors.
While Hyundai maintained the second position for the fiscal year, its market leadership remains at risk. Hyundai Motor India’s profit after tax fell 7.76% to ₹5,492.25 crore from ₹5,954.31 crore in FY2024.
During a conference call, Hyundai’s management stated that the upcoming product launches will include a mix of new models, complete redesigns, and product enhancements, as the company seeks to provide long-term value to its customers.
Hyundai COO Tarun Garg stated that the company intends to implement a robust localisation strategy to support the introduction of these EVs, with plans to release new models across all categories, including those below the Creta segment.
Hyundai Motor India is developing a comprehensive electric vehicle roadmap that includes new product development, supply chain localisation, and increased charging infrastructure.
On the supply side, the company has already localised battery system assembly (BSA) and is looking into cell-level localisation with an Indian partner, in addition to efforts in drivetrain and power electronics.
Unsoo Kim, HMIL’s Managing Director, spoke about the company’s performance and future plans, saying, “As we look ahead, we maintain a cautiously optimistic view on the domestic demand outlook in the near term, given the current macroeconomic challenges and declining consumer sentiment.” Domestic growth in FY26 is expected to be in the low single digits, with export volumes increasing by 7-8% as a result of increased focus and leverage of our strong brand reputation in key emerging markets.
We are also excited to announce an ambitious launch plan for 26 products (including updates) by FY2030, which includes 20 internal combustion engine (ICE) vehicles and 6 electric vehicles (EVs). Furthermore, we plan to introduce new environmentally friendly powertrains, such as hybrids. We believe that this strong launch strategy, combined with the increased capacity of our upcoming Pune plant, will significantly accelerate our expansion in India.” Kim explained:
The Hyundai India MD also stated that Hyundai’s Creta Electric and Ioniq 5 sold nearly 686 units in April 2025, securing a 5-6% market share for the month.
Company representatives stated that they aim to have a 15-20% market share of India’s passenger EV market. In total, Hyundai Motor India sold 3,969 EVs in Fiscal Year 2025 (FY25), including the Creta Electric and IONIQ 5.
To increase EV adoption and improve charging accessibility for customers, Hyundai is prioritising the installation of DC fast-charging stations, particularly along highways, in response to consumer demand for long-distance EV capabilities.
Currently, 89 DC chargers are operational, with plans to install another 600 EV chargers by 2032.
Hyundai Motor India Limited (HMIL) has announced a capital expenditure of 7,000 crore for FY26 to support the growth of its internal combustion engine (ICE) and electric vehicle (EV) models.
According to Hyundai India officials, 40% of this investment will go towards expanding manufacturing capabilities in Pune, with 25% going towards improving the product lineup in line with their short- and medium-term strategy.
HMIL intends to launch eight new models, with additional releases planned for the 2030 roadmap.
To increase shareholder engagement, HMIL will hold its first Investor Day in September 2025, where it will outline its medium-term growth strategy, EV initiatives, and provide additional product information.
Hyundai Motor India’s profit after tax in the March 31, 2025, quarter was ₹1,582.56 crore, a 4.05% decrease from the previous year’s ₹1,649.32 crore. The total revenue from operations for Q4 reached ₹17,561.95 crore, a slight increase of 2.51% from ₹17,131.82 crore in Q4 FY2024.
