Hyundai Motor India Ltd is preparing to introduce hybrid vehicles in the coming years with a view to include more clean fuel vehicles in its overall portfolio.
India’s second-largest passenger car manufacturer contributed only 1% of the overall product portfolio in 2024-25. Hybrid vehicles include gasoline-powered engines and electric motors.
In a post-graduation media briefing on Friday, Hyundai Motor India’s management avoided a specific goal of increasing the number of clean fuel vehicles in the company’s overall product portfolio. However, the company expects to surpass the domestic industrial average for electric vehicles by 2029-30.
Hyundai Motor India, a subsidiary of South Korean auto giant Hyundai Motor Corporation, plans to launch 26 vehicle models in India between 2030 and 2030-20, of which will be powered by conventional internal combustion engines (ICEs), while the other six will be electric vehicles. The product pipeline does not include Hyundai Motor India’s plan to launch a hybrid vehicle.
When it does introduce hybrid vehicles in India, the company will join Maruti Suzuki India Ltd, the country’s largest automaker, which includes a comprehensive portfolio of ice, hybrid and all-electric vehicles.
“We think there is a space for all kinds of technologies in India. One solution doesn’t work properly and we need to use various technologies to achieve carbon neutrality goals,” Tarun Garg, chief operating officer of Hyundai Motor India, said in a media briefing.
Read also | “India will have 123 million electric vehicles by 2032 in the best scenario”
Tepid Fy26 Outlook
Hyundai India’s total revenue fell by 1% in 2024-25 ₹At $6919.2 billion, domestic sales fell 3% to 598,666 passenger cars. Profits fell 6.9% ₹For $564 billion, the company’s management accused weak consumer demand in the last fiscal year.
Additionally, due to rising raw material costs, automakers’ performance in earnings (or EBITDA) before interest, taxes, depreciation and amortization (or EBITDA) measures the amount of damage to the earnings (or EBITDA) before interest, taxes, depreciation and amortization, the measure of its operational efficiency is 20 basis points to 12.9%.
However, in the last quarter of fiscal 25 (January to March 2025), Hyundai Motor India’s revenue increased by 1.1% year-on-year on year. ₹179.4 million, despite profits falling by 3.7% ₹16.14 million.
“While we expect our domestic growth in fiscal 26 will match industry estimates with low single-digit industry estimates, we are targeting exports 7-8%.”
The company faces tough challenges from local auto giants Mahindra and Mahindra Ltd and Tata Motors Ltd, ranking second in the domestic auto industry. Tata Motors sales fell 0.7% to 535,960 vehicles in FY25. Mahindra’s sales rose 20% to 512,626.
Read also | As consumer demand cools, the resale value of electric vehicles has declined
The situation of hybrid power
Hyundai Motor India hopes to see continued growth in its electric vehicle segment this fiscal year. Hyundai India’s total electric vehicle sales reached 3,969 units in fiscal 25, an increase of 87%.
Hyundai Motor Co.
The automotive industry has differences over the issues of hybrid and pure electric vehicles.
Previously, Tata Motors Ltd, Mahindra and Mahindra Ltd and Hyundai saw Maruti Suzuki and Toyota Kirloskar occupying the mixed camp in the pure electric vehicle camp.
Pure electric vehicles in India attract a GST of 5% in GST, which is much lower than the 28% GST of other car models.
The comment shared by the Delhi government with electric vehicle manufacturers in April showed that similar exemptions are exempted to electric vehicles in terms of road taxes and registration fees.
According to Deloitte’s latest global automotive consumer study, only 8% of Indian consumers are interested in pure electric vehicles, while 33% of the survey respondents prefer hybrid car variants.
Hyundai Motor India shares rose 0.2% to ₹On Friday, NSEs were 1,839.70, respectively, while Nifty Auto Index rose 0.62%.
Read also | Maruti
