Hyundai India banks on Creta EV, Aiming for 20% market share in EV segment

Hyundai is planning to rule the Indian EV industry with the launch of Creta Electric, as they are having huge expectations from Creta EV and are banking to grab 20% market share in the long-term as the company plans to shift its focus on EVs. Hyundai knows that India is going from a revolutionary phase and people are slowly accepting EVs as the future source of mobility.

Hyundai Creta Electric is based on the ICE model’s existing platform, and was launched on Jan 17, 2025. Hyundai will be pitting its famous SUV against the likes of Tata Curvv EV, Maruti E-Vitara and MG ZS EV.

A Significant Push into EVs in India

According to the recent quarterly sales reports, Hyundai is claiming to achieve at least 20% of the EV market share in India with Creta Electric. Tarun Garg, Chief Operating Officer (COO) shares their vision by saying, “Our long term plan is definitely to capture a market share of 20% in the EV space, as we have 14 to 15% in the ICE space.”

Besides Creta Electric, Hyundai will be launching at least three more electric cars to strengthen their position in the EV space, thereby giving tough competition to its rivals.

Hyundai’s Hopes

Hyundai has big hopes with Creta Electric and they think that Creta EV will have an important role in implementing their strategies and growth in the electric community. Another good news is that Hyundai has locally manufactured the Creta electric.

Unsoo Kim, Managing Director at Hyundai Motor expressed their thoughts by saying, “Creta Electric is ready to push the boundaries over what the electric SUV can provide, and how perfect it is. Hyundai has sold 1.1 million Creta’s and it has become a widely recognized brand in the sub compact SUV segment.

Hyundai has hopes for their popular SUV and expects at least 10% of the popular model’s overall sales in India. They are willing to sell at least a thousand units each month.

A big advantage here for Hyundai is that the ICE versions are already on sale in the market and are currently selling for more than 10,000 units on an average every month. This helps them to market their SUV even more easier as those going with the ICE models will inquire about the electric versions also.