Hyundai Ioniq 5 EV India Launch To Use Locally Manufactured Cars

Last Updated on May 24, 2022 by Anu Joy

Hyundai is expected to announce its second electric vehicle in India soon—the Ioniq 5. It is based on the same platform as the Kia EV6, which will also be available in India. Both automakers wanted to bring their electric vehicles to India as CBUs, but only Kia is following through.

According to AutoCar India, Kia has only allocated 100 EV6s for the Indian market due to the high global demand for the company’s first electric vehicle. The majority of these units arrived in the nation already constructed. Hyundai, on the other hand, is considering assembling their electric vehicle, the Ioniq 5, in the country to cut costs.

EVs pay the same customs duty as ICE cars, and when it comes to supplementary charges, CBUs pay a whopping 60 percent. On the other hand, semi-knocked down (SKD) or partially constructed cars pay only 30 percent, and completely knocked down (CKD) automobiles pay only 15 percent. In order to compete with the Kia EV6, Hyundai has chosen to go with the CKD model.

Hyundai will need to put up a separate assembly line at their plants for this CKD model to work, which will be difficult given the global part shortage. As a result, the Ioniq 5 India launch has been moved back to late 2022, with deliveries starting in early 2023. The Ioniq 5 is offered in two configurations—a 58kWh battery with a single 169hp motor, or a 72.6kWh battery pack with two motors that can be tuned to produce 217hp or 306hp.

According to the report, Hyundai will introduce the base model with a 58kWh battery and a single 169hp motor to compete with the Kia EV6. The publication further claims that Hyundai could debut the Ioniq 5 in India at a price point of around ₹50 lakhs.