Hyundai India walks to Hybrid EVs for a cleaner portfolio mixture | Company Business News

Hyundai Motor India Ltd is preparing to launch hybrid electric vehicles over the next few years, trying to include more clean fuel cars in its overall portfolio. India’s second largest manufacturer of passenger vehicles had only a contribution of 1% of electric vehicles in its total product mix in 2024-25. Hybrid cars have both petrol-powered engines and electric cars. At a media briefing after the earnings Friday, Hyundai Motor India’s management kept themselves from setting a specific target to increase the number of clean fuel cars in the company’s overall product portfolio. However, the company expects to exceed the average of the domestic industry for hybrid electric vehicles by 2029-30, they said. Hyundai Motor India, a subsidiary of South Korean car giant Hyundai Motor Co., plans to launch by 2030-20 26 vehicle models in India, of which the conventional internal combustion engines will be powered, while the other six electric vehicles will be. This product pipeline does not contain the plan of Hyundai car India to launch hybrid vehicles. If it does launch hybrid vehicles in India, the company will join an extensive portfolio with ice, hybrid and pure electric vehicles. “We feel that all types of technologies in India have a space. One solution can’t work and we have to use all kinds of technologies to achieve the carbon neutrality goal,” Hyundai Motor India chief operating officer Tarun Garg said during the media. Tepid FY26 Outlook Hyundai Motor India’s total turnover in 2024-25 fell 1% to £ 69,192, as total domestic sales fell by 3% to 598,666 passenger vehicles. The profit dropped 6.9% to £ 5.640, with the management of the company that blamed consumer demand in the previous financial year. The car manufacturer’s FY25 margin on earnings before interest, tax, depreciation and amortization – or Ebitda, a measure of operational efficiency – was also injured by rising raw material costs before interest, tax, depreciation and amortization – or Ebitda. However, for the last quarter of the FY25 (January-March 2025), Hyundai car India reported a 1.1% increase in the year-on-year in turnover to £ 17,940, although profit fell by 3.7% to £ 1,614. “Although we expect our FY26 inland growth to be broadly in line with the estimate of low-single-digit operation, we strive for the 7-8% growth,” said Unsoo Kim, managing director of Hyundai Motor India. The company is facing a tough challenge of homemade car giants Mahindra and Mahindra Ltd and Tata Motors Ltd. facing second place in the domestic car sector. Tata Motors sales fell 0.7% to reach 535,960 cars in FY25. Mahindra recorded a 20% surge in sales to 512.626. The case for Hybrid Hyundai Motor India hopes to see the financial year ongoing growth in its electric vehicles segment. After the launch of its Creta Electric Vehicle in January, Hyundai Motor India’s total EV sales reached 3.969 units in FY25, a growth of 87%. Hyundai Motor Co. Already have some hybrid models in global markets, including Santafe Hybrid, Tucson Hybrid and Kona Hybrid. The automotive industry is divided on the issue of hybrids and pure electric vehicles. Earlier, Tata Motors Ltd, Mahindra and Mahindra Ltd and Hyundai were seen in the Pure EV camp while Maruti Suzuki and Toyota Kirloskar occupied the hybrid camp. Pure electric vehicles in India attract a goods and service tax of 5%, much lower than the 28% GST for other car models. The concept of the concept of electric vehicles in Delhi shared with EV manufacturers for comment in April indicates that hybrid cars receive a waiver similar to those for electric vehicles in terms of tax on road and registration fees. According to Deloitte’s latest global car consumer study, only 8% of Indian consumers were interested in pure electric vehicles, while 33% of respondents of the study prefer hybrid car variants. Hyundai car India’s share price rose 0.2% on Friday to £ 1,839.70 each on NSE, while the Nifty Auto Index rose 0.62%.