Make In India To Yield Electrifying Results: Hyundai-Kia To Manufacture Electric Cars, Components In India

Marking a major thrust for the evolving electric vehicle space in India, the Korean majors Hyundai and Kia Motors group is finalising on a local electric vehicle manufacturing plan, reports Times of India.

The group is also exploring the possibilities of partnering for another Korean major LG for the development of electric batteries in India while also studying which international suppliers can be brought to India.

As per Albert Biermann, the president and head of the group's R&D division, the top officials from the group are presently doing due diligence on a feasibility study for the project while also taking stock of regulations, import tariffs on different parts, possible partnerships for local sourcing of the components et cetera.

The development marks critical importance for the central government which has been pushing an ambitious strategy to push locally sourced clean fuel mobility.

Meanwhile, the Japanese combine of Maruti Suzuki and Toyota is also close to launching locally made electric vehicle product offerings as the domestic giants in the space, Tata Motors and Mahindra and Mahindra are expanding their e-fleet.