20-April-2024
Corporate News
 
We want to become No. 1 EV player in India, says Hyundai's Unsoo Kim
22-Mar-2023

Following the launch of the new Verna on Tuesday, Hyundai Motor India CEO and Managing Director Unsoo Kim talks to Surajeet Das Gupta about the reasons behind the firm’s big push in sedans and its game plan in electric vehicles. Edited excerpts: Every car maker has been focusing on the high- growth SUV segment for the last few years. What made you come out with a different strategy and launch the new Verna in the sedan segment? The trend towards SUVs is global. It is happening in the US and now also in Europe, which has been a hatchback market. In 2022, however, apart from SUVs, only the sedan segment increased its contribution to the total sales. In 2021, 296,000 sedans were sold, accounting for 9.5 per cent of the total market. In 2022, it rose to 412,000, which is 10.4 per cent of the total market, reflecting 40 per cent growth. Indians aspired for sedans, but reputed brands were focused on SUVs. Our target is to double the sales through the new Verna, currently at 19,000, in the next 12 months.

News Source:- https://www.business-standard.com/article/companies/we-want-to-become-no-1-ev-player-in-india-says-hyundai-s-unsoo-kim-123032101327_1.html