Focusing on Targeting India, the World's Third-Largest Car Market… Intensifying Competition Among South Korea, China, Japan, and the U.S.
Global automakers are accelerating their efforts to target the electric vehicle market in India. The Indian electric vehicle market has high growth potential and is expected to be driven by a population of over 1.4 billion people, positioning it to become the largest electric vehicle market in the world. India aims to increase the share of electric vehicle sales to 30% by 2030, and is implementing various policies such as expanding charging infrastructure and providing subsidies to support this goal. According to industry sources on the 19th, major global automakers, including South Korea's Hyundai and Kia, Japan's Suzuki, China's BYD, and the U.S.'s Tesla, are focusing on the Indian market this year. The industry expects that more than 10 new electric vehicle models will be launched in the country. Hyundai Motor Group has made a large-scale investment to develop the Indian region as a strategic export hub while targeting the Indian electric vehicle market and expanding its business into emerging markets. Last year, Hyundai sold 559,984 units and Kia sold 237,479 units in the Indian passenger car market, achieving their highest-ever sales. This year, they plan to expand sales by launching locally produced electric vehicle models. Kia has started local production of its compact SUV model, the 'Siroz.' Hyundai, on the other hand, will launch the 'Creta EV,' the first electric vehicle model to be produced at its Indian factory. Hyundai Motor will showcase not only electric vehicles but also various electrified models. On the 18th, at the Bharat Mobility Global Expo 2025 held at the Bharat Mandapam Convention Center in Delhi, Hyundai unveiled electric vehicle concepts for three-wheelers and micro four-wheelers. Micro-mobility, including electric motorcycles and ultra-compact electric vehicles, is widely used as a form of public transportation in regions such as India and the Asia-Pacific, utilizing eco-friendly power sources. In particular, Hyundai Motor plans to invest 40 billion rupees over the next six years, until 2028, while Kia intends to invest 20 billion rupees over the next five years, until 2027. Last year, Maruti Suzuki, which ranked first in sales in the Indian market, has announced its plan to develop India as an electric vehicle export hub. Suzuki will launch its first electric vehicle, the 'e Vitara,' in the second half of this year. The company expects to leverage the growth potential and economies of scale in the Indian market to reduce electric vehicle production costs and enhance its competitiveness. Local automakers Tata Motors and Mahindra are also set to launch new electric vehicles and are actively working to expand sales in line with Indian government policies. Global electric vehicle leader, China’s BYD, will unveil the 'Sealion 7.' This vehicle is the first SUV model in BYD’s Ocean Series and is characterized by the application of the cell-to-body technology, where the battery is directly integrated into the vehicle's body. U.S. electric vehicle manufacturer Tesla is also pushing to enter the Indian market. Although the establishment of a local factory has been postponed, it is reported that preparations are underway to set up showrooms. An industry insider stated, "India is accelerating its electrification transition, expanding electric vehicle subsidies, and aiming to increase the share of electric vehicle sales to 30% of total car sales by 2030." He added, "Global automakers are focusing on targeting the market with models that offer long driving ranges and short charging times." ChatGPT를 사용하여 번역한 기사입니다.
