Mar 13 2024, 07:57
Behind Hyundai's Ioniq 5 spin: A pump-to-plug drive before making mass-market EVs:
Shah Rukh Khan, actor, producer, and activist launches the Hyundai Motor Co. IONIQ 5 electric vehicle (EV) at the India Auto Expo 2023 in Noida, Uttar Pradesh, India, on Jan. 11, 2023.
With a range of 631 km, Hyundai believes the loniq 5 will pave the way for faster adoption of electric mobility in India. While at INR46 lakh, Ioniq 5 is a premium product, it's a sneak peek into how technologically advanced Hyundai's EVs are and how the carmaker is solving the charging infra and battery puzzle.
According to the company, Ioniq 5 has sold 1,400 units in 14 months since its launch, against the targeted annual 500 units. In January 2024, it sold 95 units, compared to 65 units sold by sister brand Kia's EV6, which shares the Ioniq5 platform. To be sure, EV6 is priced above INR60 lakh, as it comes to India as a completely built unit. The Ioniq 5 comes as a completely knocked-down kit and is locally assembled. This saves on import tariffs.
The popular electric cars in India, that are of course much cheaper, have better volumes to flaunt.
The Tata Nexon EV sells around 2,500 units monthly. The MG Comet and MG ZS together have sold 23,000 units since their launch in May 2023 and January 2020, respectively. While the Nexon and the MG ZS are derivatives of internal combustion engines, the MG Comet, Hyundai Ioniq 5, Kona, and Kia EV6 are pure-play EVs.
Quarter-wise battery EV sales in FY24
01
02
03
04
Tata TIAGO
10.696
10.179
5.615
8.906
Tata NEXON
5,074
4,650
6,356
5,348
Mahindra XUV400
2,234
937
968
2,949
Tata PUNCH
0
0
0
2.776
Tata TIGOR
3.257
2.807
2.704
2,505
MG COMET
1.914
2,788
2.525
2,436
MG ZS
1.747
1.236
1.124
587
Hyundai IONIQ 5
449
431
294
382
BYD ATTO 3
339
392
329
355
Hyundai KONA
159
220
82
169
BYD E6
36
193
150
159
Kia EV6
279
207
172
33
*Estimates
source:et
Mar 13 2024, 07:57