September 30, 2023

 Hyundai Motor India announced on Tuesday an alliance with Tata Power to set up rapid charging electric vehicle infrastructure at its select dealerships across the nation. According to the statement, Hyundai Motors has 34 electric vehicle dealers across 29 cities.

“The company is glad to announce its partnership with Tata Power to facilitate and strengthen India’s robust EV ecosystem and enhance the general outlook on sustainable transportation. Such strategic partnerships are fundamental in accelerating the adoption of EVs by customers to achieve the national goal of carbon neutrality,” said Unsoo Kim, CEO and director of Hyundai Motor India, in an announcement.

In this collaboration, Hyundai EV owners will receive complete home charging service from the supply point to the installation. The charging stations in Hyundai dealer locations will be accessible to all-electric vehicle owners and accessible via Hyundai as well as the Tata Power EZ Charge mobile application, which will allow customers to locate, navigate, pay for their charges, check live status, and pre-book slots at the charging stations to ensure a smooth and seamless charging of their vehicle according to the company’s announcement.

“Tata Power’s expertise in EV charging space coupled with comprehensive charging solutions and countrywide ownership of Hyundai vehicles will help in the development of sustainable mobility infrastructure, boosting faster EV adoption,” said Dr. Praveer Sinha, CEO and MD of Tata Power, in a statement.

Based on the latest media reports, Hyundai Motor Group announced on Wednesday that it plans to invest $16.54 billion by 2030 to fund the growth of its electric vehicle company within South Korea. Hyundai Motor Group is the South Korean auto group comprising Hyundai Motors Co. and Kia Corp and plans to construct 1.44 million electric vehicles within South Korea by 2030.

The auto company was quoted in a news report that it was quoted as saying, “The 1.44 million units of EV production volumes in South Korea would account for about 45 per cent of a combined global EV production capacity of 3.23 million EV units in 2030.”

According to reports, the electric vehicle market is expected to be $802.81 billion, with a CAGR of 22.6 percent in 2027. The charging stations for electric vehicles are projected to grow to 38 percent.

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