Hyundai bets on India-specific EV as penetration picks up | Chennai Information – The Instances of India

Chennai: Hyundai Motor India Ltd (HMIL) mentioned its electrical car (EV) technique in India will acquire additional momentum with the launch of a devoted, India-focused electrical automotive slated for early 2027, at the same time as the corporate continues to see robust demand for ICE-powered SUVs and rising exports. “We’re assured that EV penetration will proceed to rise,” mentioned Tarun Garg, managing director and CEO of HMIL. EV penetration within the passenger car section almost doubled from 2.5% in calendar 12 months 2024 to about 4.4% in 2025.“With our upcoming India-focused EV, we intend to leverage this progress. EVs will play an more and more necessary function within the fleet section as nicely, and business purposes will probably be a crucial a part of our long-term EV technique, much like our method in CNG,” Garg mentioned. He additionally identified that HMIL achieved a 16% CNG penetration within the quarter, its highest-ever CNG combine, in contrast with round 14%–15% within the earlier 12 months. In the meantime, the corporate is witnessing broad-based progress throughout segments within the post-GST interval. In Jan alone, Creta volumes touched almost 18,000 items, whereas Venue recorded its highest-ever month-to-month gross sales. HMIL has additionally seen a robust response for the Venue, with cumulative bookings near 80,000 items to date. Rural markets proceed to be a key progress driver, with the corporate recording its highest-ever quarterly rural contribution to home gross sales, at over 24%. Exports rose 21%, pushed by sustained demand throughout key markets. HMIL’s main export areas—West Asia and Africa, and Latin America—reported robust double-digit progress. For the third quarter ended Dec, HMIL reported income from operations of Rs 17,973.5 crore, up 8% year-on-year. Revenue after tax elevated to Rs 1,234.4 crore from Rs 1,160.7 crore a 12 months earlier. EBITDA for the quarter stood at Rs 2,018.3 crore, with margins largely flat at 11.2% amid price headwinds.