, so hyundai rushing into the ev race uh a bit of a late starter, but again theyre going to be catching up and thats a lot of models by 2028 where the market, According to hyundais, estimates is going to be 1.7 lakh, evs and obviously hyundai wants to grab a big chunk of that market and have a strong market share by then and talking to me about this and hyundais ev plans or hyundai motors ev plans is the director For sales, service and marketing of hyundai motor india tarungar thanks for joining us uh, firstly, uh quite a mega announcement and i think its inevitable. Everyone has to join the ev race. But just my one question: do you think you all are a bit of a late starter? I know you have the kona ev, but if you look at it, uh in terms of market share very small market share in the current ev scenario. So question is uh. Being a late starter, is that a bit of a disadvantage? So thank you very much at the outset, and yes, today is a significant day when we have said that we are going to expand our battery ev portfolio to 6 by 2028. So we are all very excited and i will like to differ from you when you say that we are late starter in 2019, when we launched the kona. You know the evs were only being talked about, and here we launched the product, which was not only suv body type, which was the flavor of the season, but with a range of 450 kilometers, we had some innovations like giving a free eevee charger to every kona.

You know we, we had a partnership with our dealers in terms of even charging stations, so we, i think we we we made some good uh experiments and we were able to get some very good customer feedback. And – and here we are now uh ready and charged up as they say, to really announce that yes by 2028. Well, we would have expanded our portfolio to six right now. What i meant is uh uh, you know, is that your your market share currently in evs is not very high. So uh, you know, do you think thats uh? I just want to press on this. Do you think thats a bit of a disadvantage in terms of getting data? Obviously some competitors have now got. You know as much as a 70 market share. So obviously you know theres uh. I guess there is a lag, but whats interesting. Is that theres an absolute focus and commitment so just want to get a sense? What are you looking at in terms of market share? I know you may not want to project that 2028 is far away, but is your endeavor to be the number one evie player in india by then so look uh? I would not really get into number one evie player or not, but i would like to mention a few facts here which are very important uh. You know one is that, of course currently, if you say the market is probably less than half a percent.

You know when, when i talk about the ev space, so a market share there or a market leadership there i mean you have to see it from that perspective, so uh. What is more important is that, how critical a role you are playing in terms of going ahead, you know, so i i believe that todays announcement is a very, very significant one when a player which is global as well as indian and really really making this kind Of an announcement, so that is one the two is when we talk about evs, you know very significant part of it is, is about the platforms that we have also announced today. That one is that egmp platform, which is the electric global modular platform. You know, which is a hyundai motor groups platform, which is very unique uh, why? I say that, because not only in terms of it is very, very scalable in terms of wheelbase, you can have different body type. You can have even different length different weights also because the hvac is pushed inside the engine compartment, which means you have a much better interior space. You have flexibility of seating, you have those flat floor, you have you have a slim, cockpit in terms of performance. You have a top speed of 260 kilometers an hour when you talk about the range we can go up to 800 kilometers mind you so in terms of reliability, you have a ultra high sense, feel you have a low center of gravity.

I think a very, very significant you know, because when we talk about evs, we are also talking about the hyundai quality, and that is where i believe this is significant. The second aspect of it is that we are also. We have also announced that some of the ic derived evs are also going to come. The evs are also going to come, so you know, probably when i say six, you know maybe three would be egmp and probably three would be. You know icy derived bbs. So so you know, that is the second aspect. The third aspect is that, even on a for a mass market tv, we have also said that we are going to have a range you know of 350 kilometers uh, so that is also significant, and i believe that as hyundai as you know that our brand campaign Of beyond mobility, sustainability is a very key pillar, and innovation is a very key pillar and, of course, intelligent technology is a key pillar. I believe todays announcement is in sync with that brand thought of beyond mobility and going forward will continue to excite the market with with evie products, as we have as we have announced today. I dont completely agree with you very, very big announcement. I mean it kind of shows that youve thrown down the conflict uh its a lot of evs to come by then obviously, im sure you know uh theres gon na be, as you said, certain uh eb platforms like your egmp platform, is quite modular.

So you said three plus three, so is it fair to assume that, with the egmp platform, which is a global platform, its largely for the by indian standards, largely for the large products, youve got the ionic five on that uh? You know uh uh, you! You showed a seven seater concept at the los angeles motor show. So this looks like you will be having the high end of your ev range on egmp, but the low range will be on the ic derived platform because thats the way you can manage certain costs. Uh and obviously uh, you know a lot of commonality with the current uh ice car. So is that fair to assume that the mass vehicles will be on ic platforms and the uh top end will be there on egmp. So, while i cannot diverse too much of details at this point of time, but i think you are in the right direction, broadly as you as i said, you know because the range the performance, the power you know, all those things uh very clearly egmp – is like A you know, more of a premium kind of uh uh a platform and also the localization levels, especially in the initial few years, is going to be low. So that is going to be a challenge in terms of managing the cost, so so youre right, uh, and that is that is where the derived ic uh platform also becomes very important, where we already have some localization some volumes.

You know in terms of petrol, diesel, turbo, etc. So i think it will be both uh. You know going forward. That will be a good advantage to have a good mix of both and both will serve their own purpose. You said petrol, diesel, turbo uh, so i can assume that we can rule out the santro platform. It will be something a little bit higher because youve got certain platforms. Uh, you know uh. Typically, a good candidate could be the grand item neos platform for a vehicle. Like this, obviously you have a completely bespoke body style. So have you identified which platform you are going to select for the uh lets, say ev derived from an ic? So as you would know that, as of now what weve announced is in terms of body types, we are going to look at suvs, cuvs and sedans. Now why why now you can second question could be why why say suvs i think its a its probably a no brainer, because when you see the market, the trends very clearly i mean, if i talk about say, 2021 37 of the market is suvs uh. You know which is and which was only about 1516 in 2016., so very clearly the flavor is suvs. Also, we have seen that the customer preference is very clearly towards toward suv, so that will become a very significant part as far as body type is concerned. For for bvs, that said, we are not uh discounting any any other thing well see.

What is the market feedback uh? The advantage of an egmp platform is that we can really you know, adapt. We can be very flexible, like i already mentioned so so there is a lot of flexibility and room uh, but we have to be very, very practical and see what is the? What is it the internet customer is really looking for, even when youre looking for a ev, because sometimes we tend to assume just because it is an eevee means that customer will not want space. Maybe he will not want features. I dont think thats such a right. Uh assumption to make because customer would want you know and would not want to really compromise on some of these basic hygienes, which is now getting used to right, and also, i think, one advantage of the suv is that it has a ground clearance. I think evs have ground clearance challenges weve, seen that because the battery sits low in the floor uh and you know, ground clearance can get compromised. So uh has that also come into that suvs are also from a practical point of view, takes care of the ground clearance issues which typically evs face. Look, i think suvs uh probably are taking care of a lot of things uh. You know – and i would say that probably uh. This is where this is where it appears that the trends are. That said, as you know, we are a very significant player in in hatches and sedans as well, and that is why we have also announced that we are going to have a sedan as well when we are talking about evs right so uh, you know just uh.

Last few questions, basically on the market itself and your uh, you know projection of it. You talked about, as we said earlier, 1.75 lakh uh. You know ebs by 2028. One could even assume thats quite conservative by then do you uh? Do you think that number could be revised, obviously going upward, because you know things like fuel prices have suddenly driven demand for evs uh. These things could happen on the flip side. Some certain subsidies could be taken away. So must be pretty hard to predict uh. You know going forward and obviously this is going to be constantly revised. So just your thought on you know what the market is going to look like because uh clearly seven years down, um its pretty hard to predict yeah. You have actually answered your own question very hard to predict and this number which we have given. It is actually an ihs to uh. I think uh seventh month of 21 survey and they have also been revising their numbers so uh, so we dont know actually how it is going to be, but there has to be some base case and which says that the market would be ev market would be 175 000 in 28 uh, but we dont know uh, so we are, of course, for us uh. Your next question could be what would be the volume target again very difficult to answer. Of course, when we talk about mass market tv, obviously we will be looking at volumes, but i think probably an internal benchmark and mind you, it is internal benchmark could be that in any segment where we are present with the eevs, we should have a market share Which should be higher than what we are having in the same segment in the ic space? I think that should wet your appetite and answer your question as well.

Right so i mean you are uh, i would say a distant but strong number, two in ic vehicles, so what youre looking at is with a clean sheet of paper when the ev ray starts, which is has started, you want a larger market share. I know youre not saying it but im sure, knowing how aggressive uh the hyundai group is uh im sure you would be looking at uh. You know maybe even leadership in this, but you know just one last question. You know we are on on mass uh, evs uh, clearly thats, where the market is uh. Weve seen that uh i mean its a the strategy to go with. I see derived platforms is right, but still the supply chain is not fully developed. Are you making any assumptions on the supply chain? Localization is still a challenge right now, where uh, you know, even the basics are really being imported and you know theres just a lot of assembly of the of the battery packs over here i mean we dont. We still have to import cells. Uh. Do you uh? Are your assumptions based on lets, say localization automatically going higher in the next seven years? Yeah yeah, i think, thats a very, very key issue which you brought to the table harmas, and so we are. Let me tell you that we are in talks with you, know: various global vendors uh, both in terms of battery and the other components as well, because localization is the key to affordability and affordability is the key to volumes.

So i think its a chicken and neck story, but uh. We know we have to play a play, a role there and we are in talks. So at the opportune movement well be announcing. You know what kind of uh you know uh. What are our plans in that area, but youre right, youre spot on that its a its a big challenge, because, as of now, the cost of uh uh, you know producing a bv is obviously much higher than say a petrol or a diesel. So that gap has to be really plugged and a lot of effort will need to be done on that count, and let me say that government is doing its bit with all kinds of schemes coming up and im sure we will get clarity as we move forward. You know how many players are joining and what kind of opportunities exist in terms of really joining that ecosystem as well right – and you know last question tarun uh, you know taking off from here for mass adoption. What do you think finally, is going to be that one single trigger because lets face it by 2028? I think technology will take care of range uh. You mentioned about 70 000 charging points, so you know that infra should be in place. Is it then, finally, price and running costs, because that really you know in india, given the sensitivity to affordability, do you think thats the one trigger that needs to be fired, that one hurdle that needs to be overcome for this sudden tipping point to happen? No doubt about it or mars, you know today we see that the early adopters which are which are buying evs, they want to be seen as people who are contributing to the environment, contributing to the society looking at the future.

So a green number plate is a matter of great self esteem and also a kind of uh. You know you want to be seen and noticed. At the same time, when you talk about mass adoption, a person is looking at probably first time, buyers looking at total cost of ownership. So all those things are going to make a very important uh uh, you know a difference, and that is where i believe that localization and accordingly, affordability probably is going to be that trigger, which is going to really really. You know shift make us make this shift towards towards electric mobility. That said, i believe uh we are still at. I mean, if you see even globally today, the penetration is five percent globally, i believe in india the penetration is less than half percent, so i think we have a long way to go and uh next few years, obviously, ic and evs are going to coexist, but As things move im sure the market will will slowly, but surely you know, move towards move towards electric vehicles. Thank you very much for talking to us really a big announcement, uh from hyundai motor india, six cvs by 2028 thats. Quite a statement in your push towards green mobility and also going out in the ev space. I wish you all the best and thanks for talking to us. Thank you hormaz, always a pleasure.