Hyundai Motor India is preparing for significant growth, with plans to launch the Creta Electric Vehicle (EV) by the fourth quarter of this financial year. This move comes as the company is also set to go public with its upcoming initial public offering (IPO). Hyundai aims to establish itself as a leader in India’s growing EV market, with four new electric models and efforts to localize the EV ecosystem.

The Creta, one of Hyundai’s top-selling models, recently underwent a facelift, strengthening its foothold in India’s competitive SUV segment. In addition to this, Hyundai launched the Creta N Line and the Alcazar, continuing its premiumization strategy in the country. The introduction of the Creta EV is seen as a key milestone in Hyundai’s push into the electric vehicle space.

An official from Hyundai Motor India said, "India is at the early stages of EV adoption, but we expect strong growth by 2030, supported by government initiatives and increasing focus on EVs by manufacturers. With access to advanced EV and battery technology, Hyundai is developing an EV ecosystem in India."

Hyundai's Expansion Plans and Upcoming IPO

As Hyundai prepares for its IPO, the company is also focused on expansion. Hyundai’s Pune plant will soon see a capacity increase of 250,000 units, further solidifying the company’s presence in both domestic and international markets. This expansion is expected to boost production capabilities and meet growing demand.

Festive Season Outlook

Looking ahead to the festive season, Hyundai is optimistic about sales growth, particularly during key celebrations like Navratras, Dussehra, and Dhanteras. Early sales figures indicate a positive trend, with expectations for continued growth in the coming months.

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