Tuesday, May 28, 2019
By Kamal Swami
Hyundai And Kia To Locally Assemble Parts For Electric Vehicles In India
The announcement of FAME 2 scheme by the Government of India during the month of March 2019 has played an important role in giving momentum to the government of India’s plan to making India as one of the high potential market for the electric vehicles. Although the scheme do not reveals much about the manufacturers, but focusses on the development of infrastructural facilities like charging stations, etc. This has succeeded in grabbing the attention of major car makers willing to start the production of the electric vehicles in the Indian car market. Going through the concern of the Indian government towards the electric mobility the leading car manufacturing company Maruti Suzuki is going to launch the electric version of its recently launched generation next WagonR during the next year. Following the bandwagon group of Korean car making company (Hyundai and Kia) are also going to start the assembling of local vehicles in India from the next year.
According to the industry reports the Korean group is in the final stage of making its strategy of launching the electric vehicles in India. The reports reveal that group is speculating to join the hands of LG group for the supply of batteries, along with finding possibilities of collaborating with the suppliers of batteries in the international market. Moving ahead the report also reveals that the management of both the companies are giving the final shape to their report on assembling of components and batteries for electric vehicles in India. Commenting on the existing situation Mr. Albert Bierman, President, R&D, Hyundai Group said, "One reason why I am here in India is to better understand what's going on in the electric space here."
Moving ahead, he said, "We can import the technology, but when the market gets too competitive, we can also localize. We have a strong network of our sister companies and Korean suppliers. The Korean battery technology is leading across the world and we have strong partnerships, like with LG. So we can localize with those partners."
