Hyundai intends to launch a tiny electric car in India in the near future. So far, the South Korean manufacturer has introduced luxury vehicles to the market. "This vehicle is an exception," said a Hyundai executive to Reuters.
This might be beneficial for Pakistan as well, as it is a right-hand drive market, and the success of the tiny EV in India suggests that Hyundai will consider introducing it in Pakistan as well.
According to Hyundai India"s Director of Sales, Marketing, and Service, the decision to unveil the new tiny EV vehicle has created quite a stir. Each department is working on a separate problem, such as the charging ecology, production, sales network, and construction.
"We need to look for as much localisation as possible," Director Tauron remarked.
This is also applicable for Pakistan, where a lack of charging stations can be a problem, especially for intercity travel.
The new vehicle"s selling point is its economy and value for money, therefore localisation is the most important component in the small EV"s market success.
The corporation has yet to declare a launch date for the car. When asked why, Tauron explained that the timing had to be just perfect so that we might bring it at the proper price.
"The ecology should be ready, and there should be enough charging stations," he explained.
He stated that the EV is a modest cog in Hyundai"s larger strategy of Rs. 40 billion ($512 million) investment into the Indian market, which includes the launch of six electric cars in India by 2028, establishing a clean drive idea in some of the world"s most polluted cities.
EVs now have less than a 1% market share in India. Hyundai"s Vision 2028 aligns with the Indian government"s goal of increasing overall electric vehicle sales to 30% by 2030, with the objective of reducing emissions and imports of petroleum products.
With the introduction of inexpensive electric vehicles in Pakistan, we can predict the customer base of EVs to increase over time.