Archive · 31 Oct 2025
Hyundai CEO: India's EV Share Doubles to 6%, Company to Invest ₹45,000 Crore
Imagine more people in India are starting to buy electric cars!
For a long time, only a small number of people (about 2.5 out of every 100 cars sold) were choosing electric.
But recently, that number has doubled to about 6 out of every 100 cars.
This is happening because the government is helping out with special programs and making it easier to charge the cars, even on long trips.
More car companies are also making electric cars now, like Hyundai, which has a new electric car called Creta EV and plans to make a special one just for India by 2027.
Hyundai, a big car company, is so happy with how things are going that they plan to invest a lot of money, about ₹45,000 crore, to grow their business even more in India.
The CEO also said that India is doing really well economically and is expected to become one of the biggest economies in the world soon.
India's electric vehicle (EV) market share has doubled to approximately 6% in August-September 2025, up from around 2.5% previously.
Hyundai Motor India's MD & CEO Designate, Tarun Garg, cited government initiatives like the PME-Drive scheme and improved charging infrastructure as key drivers for EV adoption.
The development of the EV ecosystem, including localized battery packs and components, is accelerating growth in the sector.
Hyundai plans to invest ₹45,000 crore in India as part of its 'second phase of growth' following its IPO.
Garg highlighted India as a strong economic performer, projecting it to become the world's third-largest economy by 2028.
- Who
- Tarun Garg, MD & CEO Designate of Hyundai Motor India
- What
- Discussed the doubling of India's electric vehicle (EV) market share to 6%, citing government initiatives and ecosystem development, and announced Hyundai's plan to invest ₹45,000 crore in India for its next phase of growth. He also commented on India's strong economic outlook.
- When
- Recent discussions at the CNBC-TV18's India Business Leader Awards (IBLA) 2025 Jury Round Red Carpet, referencing data for August-September 2025 and future economic projections.
- Where
- India
- Why
- Increased EV adoption is attributed to government schemes like PME-Drive, expansion of charging infrastructure addressing range anxiety, and broader EV ecosystem development. Hyundai's investment is part of its 'second phase of growth' in India.
Past EV Adoption
Current EV Adoption
Market Share
Past EV Adoption
India's EV penetration remained stagnant at approximately 2.5% for the two years prior to 2025.
Current EV Adoption
EV penetration in India has recently surged to around 6% in August-September 2025.
Growth Drivers
Past EV Adoption
Limited government push and unresolved range anxiety hindered EV adoption.
Current EV Adoption
Government schemes (PME-Drive), improved charging infrastructure, and increased OEM participation are fueling growth.
- Company
- Hyundai Motor India
- Spokesperson
- Tarun Garg, MD & CEO Designate
- EV Penetration
- 6% (August-September 2025)
- Previous EV Penetration
- ~2.5%
- Enabling Factors
- PME-Drive scheme, improved charging infrastructure, increased OEM competition, localized EV components (battery packs, power electronics, drivetrains)
- Hyundai Investment in India
- ₹45,000 crore
- India's Economic Outlook
- Projected to be the third-largest economy by 2028; targeting $35 trillion GDP by 2047
Sources
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Hyundai net rises 14% to Rs 1,572 cr
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Maruti Suzuki Q2 Results 2025 LIVE: Net profit likely to rise 7% YoY, margin seen under pressure
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