Hyundai Motor India plans to help ramp up the electric vehicle charging infrastructure with a target to install nearly 600 public EV fast charging stations across the nation over next seven years.
The company cited studies conducted internally which showed buyers' apprehension over long-distance commute through the electric mode, as charging infratructure lacked along the highways.
"The EV market is expected to grow robustly by 2030. Studies conducted by HMIL have highlighted that customers are apprehensive about driving their EVs for long-distance commutes on highways due to a lack of charging infrastructure," Jae Wan Ryu, Function Head – Corporate Planning, Hyundai Motor India said.
To address this, Hyundai said it now plans to ramp up fast EV chargers on select highways as well as in in major cities. "HMIL has taken the initiative of installing fast EV chargers on key highways, in addition to major cities. With access to HMC's global EV and battery technology, HMIL is well-positioned to build a comprehensive EV ecosystem in India," Jae Wan said.
HMIL said by the end of December, HMIL's fast public network will be available at over 50 locations across India.
The company's charging network has is 'actively investing' in the EV infrastructure to support the projected growth for electric vehicles. The car maker said it has also signed an MoU with Tamil Nadu for 100 EV charging stations across the state by 2027. Ten of these will be operational by the end of December, these stations in Tamil Nadu can be accessed 24x7 through its 'myHyundai' app.
The car maker now offers access to over 10,000 charging points across India to all EV four-wheelers in India, in collaboration ChargeZone, Statiq, Shell India and others. Recently, the car maker said it has equipped 100 dealerships with DC 60 kW fast chargers.
Hyundai's EV charging infra bet reflects its growing confidence that India's EV market is poised to grow strongly.
The company has access to parent Hyundai Motor Corp's global EV and battery technology, which is supporting its EV initiatives in India.
"...we are planning to launch 4 EV models including the Creta EV and we are also localizing EV supply chain like the battery pack, drive train and the battery cell and also we are investing in EV infrastructure as well," said Unsoo Kim, CEO, HMIL. The company is betting on its upcoming EV launches to drive volumes.
Shares of Hyundai Motor India are lower by 1.5% in mid-day trade on December 9, and trading near its October's listing price.
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