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Hyundai is preparing to launch a low-cost small electric vehicle

Hyundai is preparing to launch a low-cost small electric vehicle

Hyundai intends to launch a small electric vehicle in India in the near future. So yet, the South Korean company has only launched its premium vehicles on the market. According to Reuters, a Hyundai executive said, “This vehicle happens to be an outlier.”

This might be beneficial for Pakistan as well, as it is a right-hand drive market, and if the compact EV succeeds in India, Hyundai may consider bringing it to Pakistan.

The decision to offer the new tiny EV vehicle has caused quite a stir at Hyundai India, according to the company’s Director of Sales, Marketing, and Service. Each department is concentrating on a distinct issue, such as the charging ecology, manufacturing, sales network, and assembly.

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Director Tauron stated, “We have to look for as much localisation as possible.”

This is also true in Pakistan, where a lack of charging facilities can be an issue, particularly for intercity travel.

Because the new vehicle’s selling point is its economy and value for money, localisation is the most important component in the small EV’s market success.

In India, electric vehicles currently have a market share of less than 1%. Hyundai’s Vision 2028 aligns with the Indian government’s goal of increasing overall electric vehicle sales to 30% by 2030, in the hopes of lowering emissions and reducing petroleum imports.

With the introduction of inexpensive electric vehicles in Pakistan, we can expect the market share of EVs to increase over time.

RELATED: Hyundai Nishat Starts Bookings With a Warning

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