**Hyundai Motor India to Launch Hybrid Electric Vehicles by 2030**
Hyundai Motor India Ltd is gearing up to introduce hybrid electric vehicles in the coming years, aiming to expand its clean-fuel car offerings. As the second-largest passenger vehicle manufacturer in India, the company reported that electric vehicles accounted for only 1% of its product mix in 2024-25. Hybrid vehicles, which combine gasoline engines with electric motors, are set to play a significant role in Hyundai’s future strategy.
During a media briefing following their earnings report, Hyundai Motor India’s management did not specify a target for increasing the number of clean fuel vehicles in their portfolio. However, they expressed confidence in surpassing the domestic industry’s average for electric vehicles by 2029-30. The company, a subsidiary of South Korea’s Hyundai Motor Co., plans to launch 26 vehicle models in India by 2030, with 20 powered by traditional internal combustion engines and six as electric vehicles. This lineup does not yet include the upcoming hybrid models.
Once Hyundai introduces hybrid vehicles, it will join Maruti Suzuki India Ltd, the largest car manufacturer in the country, in offering a diverse range of vehicles that includes internal combustion engines, hybrids, and fully electric options. Tarun Garg, Chief Operating Officer at Hyundai Motor India, emphasized the need for a variety of technologies to achieve carbon neutrality, stating, “We feel that in India all kinds of technologies have a space. One solution cannot work, and we need to leverage all kinds of technologies to reach the carbon neutrality goal.”
In terms of financial performance, Hyundai Motor India reported a 1% decline in total revenue for 2024-25, totaling ₹69,192 crore, with domestic sales falling by 3% to 598,666 passenger vehicles. Profit also decreased by 6.9% to ₹5,640 crore, attributed to weak consumer demand and rising raw material costs. The company’s EBITDA margin fell by 20 basis points to 12.9%. However, in the last quarter of FY25, Hyundai saw a 1.1% year-on-year revenue increase to ₹17,940 crore, despite a 3.7% drop in profit to ₹1,614 crore.
Looking ahead, Unsoo Kim, Managing Director at Hyundai Motor India, anticipates that domestic growth for FY26 will align with industry estimates of low single-digit growth, while aiming for a 7-8% increase in export volumes. The company faces stiff competition from domestic rivals Mahindra and Mahindra Ltd and Tata Motors Ltd for the second position in the Indian auto sector. Tata Motors experienced a slight sales decline of 0.7%, while Mahindra saw a significant 20% increase in sales.
In summary, Hyundai Motor India’s strategic move towards hybrid electric vehicles reflects its commitment to diversifying its portfolio and contributing to a sustainable automotive future in India.
**FAQ**
**Q: When does Hyundai Motor India plan to launch hybrid vehicles?**
A: Hyundai Motor India is preparing to introduce hybrid electric vehicles over the next few years, with a goal to expand its clean-fuel offerings significantly by 2030.
