Since its founding in 1967, Hyundai Motor Company has grown into a global automotive leader, known for its innovation, quality, and market share growth. With the release of the Pony in 1975, Hyundai became the first South Korean car manufacturer to export vehicles overseas. Over the years, Hyundai has continued to introduce cutting-edge technologies and stylish designs, selling over 4.5 million cars annually and achieving a market share of 4.3% in 2020. The company’s success is attributed to its adaptability to changing market conditions, investment in electric and hybrid vehicles, and its focus on sustainability and customer satisfaction.
Hyundai’s target audience includes college students, families, and retirees who desire reliable, affordable cars with modern designs. The brand performs strongly in urban and suburban areas, particularly in Europe and Asia, where fuel efficiency and affordability are significant factors. Customers value innovation, technology, and environmentally friendly options with low emissions and fuel efficiency. Safety is also a priority, attracting families and older drivers who appreciate advanced features.
Hyundai caters to a diverse group seeking reliable, affordable cars with modern designs, advanced technology, and a strong emphasis on safety.
Hyundai is one of the world’s largest and most successful automobile manufacturers, with a reputation for innovation and reliability. But what is the secret to their success? Let’s take a closer look at Hyundai’s marketing mix and how it has contributed to the company’s success.
Hyundai Marketing Mix
Hyundai Product Strategy
Hyundai offers a diverse range of cars, from compact hatchbacks to full-size SUVs, with a variety of features and customization options to suit different needs and preferences. Each vehicle is designed with the latest technology, safety features, and stylish aesthetics, appealing to a broad range of customers.
Hyundai Pricing Strategy
The company’s pricing strategy is aimed at providing customers with high-quality vehicles at reasonable prices, offering excellent value for money. By keeping its prices competitive and affordable, Hyundai has made its cars accessible to a wider audience.
Hyundai Place Strategy
Hyundai has a strong global presence, with a network of dealerships and showrooms in over 190 countries. The company is committed to making its cars accessible to customers worldwide, providing a variety of financing and leasing options to suit different needs and budgets.
Hyundai’s promotional efforts are centered on creating an emotional connection with customers. The company’s advertising campaigns are known for their creativity and humor and are designed to evoke positive emotions and associations with the Hyundai brand. Hyundai also sponsors a variety of sports and cultural events, creating opportunities for customers to interact with the brand in fun and engaging ways.
Hyundai’s marketing mix is a critical factor in its success. By offering a diverse range of high-quality vehicles at competitive prices, creating engaging advertising campaigns, and maintaining a robust distribution network, Hyundai has built a strong reputation for innovation, reliability, and customer satisfaction.
Hyundai has a long history of innovative and engaging marketing campaigns that have helped the company build a strong brand and connect with customers. Hyundai brand positioning focuses on delivering value-for-money vehicles that combine smart design, comfort, and reliability for modern consumers. Here are some of the top marketing campaigns of Hyundai:
Hope Detector
This campaign was launched in 2014 and aimed to spread awareness about childhood cancer. Hyundai partnered with the Hope on Wheels organization to donate funds for cancer research. The campaign used a specially designed “Hope Detector” to detect hope in people and capture their stories, creating a powerful emotional connection with viewers.
These Heroes Don’t Wear Capes They Wear Lab Coats | Hope On Wheels | Hyundai
Hyundai Super Bowl Ads
Hyundai has become known for its creative and humorous Super Bowl ads. One of the most memorable was the “First Date” ad in 2016, which depicted a protective father using Hyundai’s Blue Link technology to track his daughter’s first date. The ad was a hit with viewers and helped boost Hyundai’s brand awareness.
Hyundai: Super Bowl Commercial – Smaht Pahk
Shackleton’s Return
In 2016, Hyundai launched a unique campaign to promote its Santa Fe SUV. The campaign featured British explorer Sir Ernest Shackleton’s granddaughter leading a team on a modern-day expedition to Antarctica using the Santa Fe. The campaign was a hit with viewers and helped position the Santa Fe as a rugged and capable SUV.
Hyundai | Shackleton’s Return | An Endurance Expedition with the Santa Fe
Hyundai Assurance
In 2009, Hyundai launched the “Hyundai Assurance” campaign in response to the economic recession. The campaign offered customers the ability to return their new car within a year if they lost their job, providing a safety net during uncertain times. The campaign was a huge success and helped boost Hyundai’s sales during a difficult period.
Hyundai Assurance – Keeping A Customer
Hyundai has a long history of creative and engaging marketing campaigns that have helped the company connect with customers and build a strong brand.
Hyundai Marketing Strategies
Hyundai has become a leader in the automotive industry through its innovative and effective marketing strategies. From creative advertising campaigns to social media engagement, Hyundai has employed a range of tactics to connect with customers and build a strong brand. Hyundai business strategy focuses on innovation, global expansion, and offering value-driven vehicles to meet the evolving needs of diverse customer segments. Here are the top marketing strategies of Hyundai.
Segmentation, Targeting & Positioning
Hyundai divides its customers into clear groups using how they behave and their lifestyles. Most of Hyundai’s cars are made for the economy segment, but it is now also focusing on premium buyers with its SUVs and special showrooms like Hyundai Motorstudio.
Hyundai follows a differentiated marketing strategy. Its main target customers are middle- to upper-income professionals who want a good, comfortable car for daily city use at a reasonable price.
College students are also a target group, especially those who want stylish and fast cars.
For businesses, Hyundai focuses on mid-size and large companies that want to give their staff a reliable car for everyday use. A secondary business target includes small business owners and entrepreneurs who may want to offer special deals to their employees buying a new car.
Hyundai builds a strong connection with its customers, offering more than just a vehicle.
Hyundai’s Positioning is all about giving a complete experience. It mixes smart features, great design, and affordable pricing to give buyers real value—not just a car, but a satisfying journey.
Product Innovation
Hyundai has a reputation for innovation, constantly introducing new features and technology in its vehicles. This strategy has helped Hyundai differentiate itself from competitors and appeal to customers looking for the latest and greatest in automotive technology.
Hyundai Digital Marketing
Hyundai has embraced digital marketing channels, including social media, email marketing, and online advertising, to reach customers where they spend the most time. The social media presence is particularly strong, with engaging content and a large following on platforms like Facebook and Instagram.
Cause Marketing
Hyundai has partnered with a variety of organizations and causes, including childhood cancer research and sustainability initiatives. These partnerships allow Hyundai to connect with customers on a deeper level and demonstrate its commitment to important social issues.
Creative Advertising
Hyundai’s advertising campaigns are known for their creativity and humor, often featuring memorable characters and catchy jingles. These ads help build brand awareness and create a positive emotional connection with viewers.
Sponsorship
Hyundai sponsors a variety of events and organizations, including sports teams and cultural festivals. These sponsorships provide opportunities for customers to interact with the brand in fun and engaging ways and help build brand loyalty.
Hyundai’s marketing strategies are focused on creating a positive customer experience. From offering financing and leasing options to providing exceptional customer service, Hyundai prioritizes the needs and preferences of its customers.
Conclusion
Hyundai’s marketing strategies have played a crucial role in its success, showcasing the company’s commitment to excellence and innovation in the automotive industry. These strategies serve as valuable lessons for marketers and startups aiming to thrive in today’s competitive landscape. Hyundai’s marketing efforts inspire marketers across corporations and startups, enabling them to develop unique strategies that differentiate them from competitors and resonate with their target audience. Implementing effective strategies can cultivate a lasting brand and foster meaningful customer connections.
Hyundai’s target audience includes college students, families, and retirees who desire reliable, affordable cars with modern designs. Hyundai caters to a diverse group seeking reliable, affordable cars with modern designs, advanced technology, and a strong emphasis on safety.
What is the marketing strategy of Hyundai?
Here are the top Hyundai marketing strategy:
Product Innovation
Digital Marketing
Cause Marketing
Creative Advertising
Sponsorship
Influencer Marketing
Customer-centric Approach
What is Hyundai pricing strategy?
Hyundai follows a competitive pricing strategy, offering high-quality vehicles at affordable prices to attract a wide range of customers. The brand focuses on delivering value-for-money by balancing cost, features, and performance. This helps Hyundai appeal to budget-conscious buyers while also expanding into premium segments with well-priced SUVs and feature-rich models.
Kia, another South Korean automaker, has decreased its ownership in the EV company, while Hyundai Motor has sold off all of its shares in Ola Electric. According to a news agency, the total share sale brought in about INR 6.89 billion ($80 million).
Hyundai, which had previously owned 2.47% of the company, sold its shares at INR 50.70 a share, according to exchange records made public on June 5.
At INR 50.55 per share, Kia sold off 0.6% of its ownership. Kia initially owned less than 1% of the company, and as exchange data does not show stakes below 1%, its present ownership is unknown. Ola Electric’s share price dropped 8% on 5 June as a result of the disposals.
The stock fell as a result of both sales being priced at a discount of almost 6% to the closing price on 4 June. With intentions to work together on the development of electric vehicles and charging infrastructure with Bhavish Aggarwal’s business, Hyundai and Kia had already invested $300 million in Ola Electric in 2019.
Ola Navigating Through Troubled Waters
For Ola Electric, the divestment occurs during a challenging period. The business has been battling declining sales, increased competition from well-known two-wheeler producers, and regulatory scrutiny.
Since August 2024, when it went public, its stock has fallen 46%. Ola Electric has predicted a drop in revenue for the first quarter of the new fiscal year and revealed a larger fourth-quarter deficit.
In order to combat competition, the company has been offering high discounts, which has put additional strain on its earnings.
In addition, Ola has come under further scrutiny for the way it counts car reservations and has been the target of searches and car seizures by local transport authorities for noncompliance with regulations. On the NSE, Ola Electric Mobility’s shares fell 7.58% to settle at INR 49.61 per share.
Ola’s Recent Financial Dynamics
Ola Electric stated this week that it is aiming for profitability in the current fiscal year, despite reporting a consolidated net loss of INR 870 crore for the fourth quarter that ended on March 31, 2025.
In the January–March quarter of the fiscal year 2023–24, the corporation reported a net loss of INR 416 crore. According to the corporation, operating revenue decreased to INR 611 crore from INR 1,598 crore during the same time last year.
The company’s net loss for FY25 was INR 2,276 crore, compared to INR 1,584 crore for the fiscal year 2023–2024. It further stated that its operating revenue decreased to INR 4,514 crore from INR 5,010 crore in FY24.
The Indian automobile market witnessed a big shake-up in April 2025, with Mahindra & Mahindra and Tata Motors surpassing Hyundai in car sales. While Maruti Suzuki remains firmly in the lead, the real news this month is that Hyundai dropped out of the top three. Mahindra, for its part, notched a healthy 28% increase in unit sales to a total of 52,330. SUVs continue to drive this automaker’s growth, with models like the ScorpioN and the brand’s other unibody SUVs, including the XUV lineup and the BE6. Meanwhile, the electric XUV9e is also maximizing momentum.
Tata Motors took the third spot with 45,199 units, although it recorded a 6% dip in sales. Hyundai was not too far behind at 44,374 units, with its sales nosediving by 12%. This is not the first time Mahindra has come ahead of Hyundai; it notably surpassed the Korean company in sales back in February of this year.
SUV Strategy Shields Mahindra from Broader Slowdown
When the compact car and sedan segments push hard against the overall car market, it is Mahindra’s focus on SUVs that appears to be hyper-driving it into a parallel universe where it is totally unaffected by the slowdown weighing upon those other segments. Demand for rugged, off-road-capable vehicles that are also suitable for use in everyday life seems to be growing too strong for the company to ignore.
Different from Hyundai and Tata, which have a much more varied range of products including hatchbacks, sedans, and SUVs, Mahindra has directed its attention almost entirely to the SUV segment. This high-demand SUV focus has proven to be more resilient lately, especially since sedans seem to be losing popularity with consumers. Market analysts that follow Mahindra say its product positioning and design strategies are bettering the brand’s chances of making a noticeable impression in the market.
Ranking Volatility Expected to Continue
Given the uncertain market conditions, automakers are being careful. With geopolitical tensions and potential developments over international tariffs affecting consumer sentiment, many companies are putting short-term volume gains behind their efficient inventory management priorities.
April’s reshuffling may not be a one-off event, observers in the industry believe. The competitive terrain among Mahindra, Hyundai, and Tata Motors is set to remain fluid for the foreseeable future. Sales performance may see-saw as each contender adapts its strategy, rolls out new models, and reacts to market demand.
Mahindra’s leadership underscores a clear strategic focus: It’s going after revenue market share in the SUV segment, which it defines as “adventure ready,” instead of overall passenger vehicle volume leadership. In the meantime, other automakers, including Toyota, Kia, Skoda, and JSW MG, saw gains in April, indicating that upward movement for specific brands is still achievable, even in what is an overall hesitant climate.
Established in 1967, the South Korean conglomerate has expanded its footprint across the world, with a presence in over 200 countries. Hyundai’s commitment to excellence is reflected in its diverse product range, which includes compact cars, sedans, SUVs and cutting-edge electric and hybrid vehicles.
Known for its emphasis on quality, technology and design, Hyundai has successfully built a reputation for delivering vehicles that cater to both traditional automotive markets and the evolving landscape of eco-friendly, electric mobility.
In this StartupTalky article, we will learn how Hyundai’s strategic initiatives, its startup story, founders, business model, revenue model, subsidiaries, competition, market expansions and technological advancements are setting the stage for a more sustainable and digitally connected future, keeping them ahead of competitors in the ever-evolving automotive market.
Hyundai is home to one of the world’s most impressive car manufacturing plants. Located in Ulsan, South Korea, this mega facility can produce a whopping 1.6 million vehicles every year! With a global workforce of around 75,000 employees, Hyundai has built a strong presence, selling its cars in 193 countries through a vast network of 5,000 dealerships and showrooms. As of November 2024, Hyundai proudly stands as the third-largest carmaker globally, just behind automotive giants Toyota and Volkswagen.
Hyundai Motor Company – Industry
India’s automotive industry is a powerhouse, ranking as the fourth-largest globally in both production and valuation according to 2022 figures. By 2023, it had climbed even higher, becoming the world’s third-largest automobile market in terms of sales.
The sector’s significance to the economy is immense. As of April 2022, the Indian auto industry was valued at over $100 billion, contributing 7.1% to the nation’s GDP and accounting for 8% of its total exports. However, car ownership remains relatively low, with only 8% of Indian households owning a vehicle, as highlighted by the 2021 National Family Health Survey. Additionally, India has just 22 automobiles per 1,000 people, a stark contrast to more developed markets.
The industry boasts a diverse lineup of manufacturers driving innovation and growth. Major players include Maruti Suzuki, Hyundai Motor India, Tata Motors, Mahindra & Mahindra and Ashok Leyland. Other contributors to this dynamic market are Eicher Motors, Royal Enfield, Tractors and Farm Equipment Limited, Sonalika Tractors, Force Motors and even specialized entities like Vehicle Factory Jabalpur and Kerala Automobiles Limited. These companies collectively form the backbone of India’s thriving automotive sector.
Hyundai Motor Company – Founders and Team
Chung Ju-yung
Chung Ju-yung – Founding Chairman, Hyundai
Chung Ju-yung is the Founding Chairman of Hyundai Motor Company. Born in 1915 in what is now North Korea, Chung Ju-yung was the eldest son in a modest farming family. At just 18 years old, he left his rural home in search of a better life, embarking on a journey that would define him as one of the most influential figures in modern Korea.
Chung’s early years were marked by determination and resilience. He worked various jobs, including railway construction, bookkeeping and dock work. In 1938, he ventured into entrepreneurship with a rice store, but the oppressive policies of the Japanese occupation forced its closure within a year. Undeterred, he continued to pursue opportunities, eventually repairing trucks for the U.S. Armed Forces after World War II. This experience laid the foundation for his entry into engineering and construction, where his business would later take on global, multibillion-dollar projects.
One of Chung’s most legendary achievements was his foray into shipbuilding—a field in which he had no prior experience. His boldness paid off when he secured a contract worth millions to build a ship. This audacious move would grow into Hyundai Heavy Industries, now the world’s largest shipbuilder.
Through relentless effort, ingenuity and a commitment to hard work, Chung built a series of businesses that were instrumental in transforming South Korea into an economic powerhouse. Despite his immense success, he remained humble, disciplined and focused on his work, embodying the values of simplicity and perseverance.
In his later years, Chung turned his attention to a cause close to his heart: the reunification of Korea. He dedicated himself to fostering dialogue and understanding between North and South Korea. His actions were often symbolic, such as driving 1,000 cattle across the border to North Korea, representing hope and unity. His efforts to bridge the divide between the two Koreas are seen by many as his most significant legacy.
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Chung’s life philosophy continues to inspire: “Failures, not successes, teach us the most valuable lessons. We need not remember our successes; others will do that. Instead, we must learn from our losses and failures—forgetting them leads to repeated mistakes.”
Unsoo Kim
Unsoo Kim – Managing Director, Hyundai Motor
Unsoo Kim is the Managing Director of Hyundai Motor India Limited, bringing over 30 years of experience with Hyundai Motor Company. He joined the company in 1991 and has since held various leadership roles across the globe, gaining extensive expertise in business planning, strategy and operations.
Mr. Kim holds a bachelor’s degree in engineering from Seoul National University in Korea. His diverse career includes significant assignments in multiple global markets, where he has contributed to Hyundai’s strategic initiatives and operational growth.
Before his current role at Hyundai Motor India, Mr. Kim was the Executive Vice President of Global Operations at Hyundai Motor Company. His previous tenure with Hyundai Motor India spanned four years, including a key role as the Executive Director of the Corporate Planning Division from 2014 to 2015.
Hyundai Motor Company – Startup Story
Chung Ju-yung was a pioneering South Korean entrepreneur and the founder of Hyundai Group, one of the largest conglomerates in South Korea. His visionary leadership was instrumental in shaping the country’s rapid economic growth, particularly in the aftermath of the Korean War. Chung’s ambitious ventures played a crucial role in rebuilding South Korea’s infrastructure and establishing its presence on the global industrial stage.
In 1946, shortly after Korea’s liberation from Japanese rule, Chung founded Hyundai and Hyundai Civil Industries to capitalize on the country’s need for post-war reconstruction. He won major government contracts and became a key figure in developing South Korea’s transportation and energy infrastructure, including the Soyang Dam (1967), the Gyeongbu Expressway (1970) and the Kori Nuclear Power Plant.
One of Chung’s most remarkable achievements was his expansion into shipbuilding. With no prior experience in the industry, he established the Ulsan shipyard, which became the world’s largest. Under his leadership, the first vessel was completed in just three years, a testament to his relentless drive and innovative approach. In 1975, he introduced the Hyundai Pony, South Korea’s first domestically produced car, followed by the Hyundai Excel in 1986, both of which were developed with European expertise.
Chung also founded Hyundai Heavy Steel Company, which introduced a revolutionary non-dock shipbuilding method. His efforts not only helped make Hyundai a global leader in shipbuilding but also expanded its reach into various industries, making it one of South Korea’s most influential chaebols. His ability to secure contracts from both the United States Forces Korea and the United Nations Command played a significant role in his company’s early success and his determination helped Hyundai overcome the challenges of post-war South Korea.
Through sheer perseverance and vision, Chung Ju-yung not only built a business empire but also contributed significantly to the modernization of South Korea, leaving a lasting legacy in both the business world and the nation’s infrastructure development.
Hyundai Motor Company – Mission and Vision
Mission
Hyundai’s mission is to deliver a customer-centered experience by offering innovative products and services that enhance mobility and promote eco-friendly lifestyles. The company is committed to ensuring safety and comfort, achieving cost competitiveness in the global market and driving technological advancements in areas like robotics, artificial intelligence and smart manufacturing.
Vision
Hyundai envisions a sustainable future by leading the transition to zero-emission vehicles, establishing a hydrogen ecosystem and developing software-defined vehicles by 2025. By neutralizing carbon emissions by 2045, Hyundai aspires to create a cleaner, greener planet while revolutionizing the automotive industry.
Hyundai Motor Company – Name, Tagline and Logo
Hyundai Logo
The name “Hyundai” comes from the Korean word for “modernity,” embodying the company’s commitment to innovation and progress.
Tagline: Hyundai’s current slogan, “New Thinking, New Possibilities,” reflects its forward-thinking philosophy and mission to push boundaries. Another tagline, “Next Awaits,” was introduced as part of a “Progress” communication campaign, emphasizing the brand’s focus on future innovation.
Logo: Hyundai’s iconic “H” logo is more than just the first letter of its name. It symbolizes two people shaking hands—one representing the company and the other its customers—illustrating Hyundai’s dedication to trust and customer satisfaction. The silver color of the logo adds a touch of sophistication and modernity, aligning with the brand’s ethos.
Hyundai Motor Company – Business Model
Hyundai’s business model thrives on relentless innovation and a steadfast commitment to customer satisfaction. The company integrates advanced manufacturing techniques with stringent quality control to produce vehicles that prioritize safety, efficiency and performance. Leveraging digital transformation, Hyundai employs data analytics and artificial intelligence to enhance product development and strengthen customer engagement. Sustainability lies at the heart of its strategy, reflected in initiatives aimed at reducing carbon emissions and advancing green technology. With a diverse range of powertrains—including fuel cell, battery-electric, hybrid and mild-hybrid options—Hyundai caters to a wide spectrum of consumer needs, supported by smart safety features, cost-effective operation and industry-leading warranties.
Hyundai Motor Company – Revenue Model
Hyundai Motor Company’s revenue model is multifaceted, driving income through diverse streams. Vehicle sales form the backbone, spanning entry-level models to luxury and commercial segments, addressing varied market demands. After-sales services, including parts and accessories, contribute significantly by providing long-term value to customers. Hyundai also capitalizes on licensing agreements and strategic partnerships, particularly in automotive technology and sustainable mobility. The company’s expanding portfolio of electric and hybrid vehicles taps into the growing demand for eco-friendly transportation, positioning Hyundai as a leader in the green mobility market while ensuring robust financial growth and stability.
The following challenges highlight the complex landscape Hyundai must navigate to sustain its growth and reputation in the Indian market:
Economic and Consumer Challenges
Hyundai faces significant challenges due to declining consumer sentiment, particularly in rural areas where sales have dropped noticeably. The imposition of an infrastructure cess, ranging from 1-4% in the Indian Budget, has further strained the automobile market, raising costs for consumers and affecting demand. These economic pressures have required Hyundai to reassess its pricing strategies and market positioning to remain competitive.
Policy Uncertainty
Frequent changes in government policies in India present another hurdle. Hyundai, which plans to raise INR 25,000 crore by selling a 17% equity stake in its local unit, has highlighted concerns about the instability of policy frameworks. Having invested nearly INR 30,000 crore since its entry into India in 1996, the company emphasizes that stable government guidelines are essential for confidently making technological upgrades and maintaining a steady flow of investments into the country.
Environmental and Ethical Concerns
As a car manufacturer, Hyundai faces growing scrutiny regarding its environmental impact, particularly in India, where air pollution is a critical issue. The company must adopt stringent measures to reduce emissions and align with the government’s push for sustainable transportation. Additionally, Corporate Social Responsibility (CSR) is gaining importance, demanding that Hyundai address ethical concerns and contribute proactively to environmental conservation and community development.
Hyundai Motor Company – Investments
Hyundai Motor Company has actively participated in strategic investments and partnerships, showcasing its commitment to technological advancements and innovation. Among its most notable exits are IonQ, SoundHound and SES (SolidEnergy Systems).
Announced Date
Organization Name
Funding Round
Price
Jun 5, 2024
42dot
Corporate Round
₩ 253 million
May 29, 2024
Obsidian Sensors
Convertible Round
–
May 3, 2024
Surff
Seed Round
–
Mar 18, 2024
AmpUp
Venture Round
$276.6K
Mar 18, 2024
Terracle
Series A
₩ 10.5 billion
Oct 23, 2023
Koop Technologies
Corporate Round
–
Jun 27, 2023
BOS Semiconductors
Seed Round
₩ 2 billion
Apr 25, 2023
42dot
Corporate Round
₩1.1 trillion
Dec 1, 2022
Gbike
Series C
$1 million
Jul 21, 2022
Floatic
Seed Round
₩ 3.4 million
Hyundai Motor Company – Mergers and Acquisitions
Hyundai has strategically expanded its capabilities through notable mergers and acquisitions, including:
Acquired On
Acquired Company
Price
Aug 15, 2022
42dot
$328 million
Feb 2021
Doosan
—
Dec 10, 2020
Boston Dynamics
$1.1 billion
Hyundai Motor Company – Growth
Although Hyundai Motor India continues to be the second-largest car manufacturer in India, trailing behind market leader Maruti Suzuki, it faces growing competition from domestic players like Tata Motors and Mahindra & Mahindra, which have gained traction, particularly in the SUV segment. The company also achieved a significant milestone as revenues crossed INR 60,000 crore, driven by higher production capacity utilization and an increasing share of SUVs in its portfolio.
Hyundai Financials
3rd Quarter 2023
3rd Quarter 2024
Revenue
KRW 40.99 trillion
KRW 42.93 trillion
Operating Profit
KRW 3.89 trillion
KRW 3.58 trillion
Net Profit
KRW 3.30 trillion
KRW 3.21 trillion
Hyundai Motor’s Third Quarter Revenue and Profit
Revenue Growth
Hyundai Motor Company reported a 4.7% year-on-year increase in revenue, reaching KRW 42.93 trillion for Q3 2024.
Profit Margins
Operating profit for the quarter rose to KRW 3.58 trillion, with an impressive operating profit margin of 8.3%. The company achieved a net profit of KRW 3.21 trillion, showcasing strong financial health and efficient operations.
Unit Sales
Global sales totaled 1,011,808 units, marking a steady performance amid declining global automotive demand. Sales in the North American market increased by 9.3%, while the Korean market saw a growth of 1.8%, highlighting Hyundai’s strategic market positioning.
Shareholder Returns
Hyundai maintained its commitment to shareholders by declaring a Q3 dividend of KRW 2,000, aligning with its established shareholder return policies.
Market Position and Sales
In FY2023, the company achieved record domestic sales exceeding 600,000 units, alongside strong export performance.
Financial Performance
HMIL demonstrated remarkable financial growth in FY2023, with net profit surging by 62.3% year-on-year to reach ₹4,709 crore.
Hyundai Motor Company’s subsidiaries include: 1. Hyundai Motor India 2. Hyundai Motor Indonesia 3. Hyundai Motor America 4. Hyundai of Canada 5. Hyundai Motor of South America 6. Hyundai do Brasil 7. Hyundai China 8. Beijing Hyundai 9. Hyundai Japan 10. Hyundai Motor Philippines 11. Hyundai Motor Europe
Hyundai Motor Company – IPO (India)
Hyundai Motor India’s Initial Public Offering (IPO) was a significant event, marking the company’s entry into India’s equity market with a book-built issue of INR 27,870.16 crores. The issue was entirely an offer for sale, with 14.22 crore shares up for sale. The IPO bidding process began on October 15, 2024 and closed on October 17, 2024. The allotment of shares was finalized on October 18, 2024, with the shares listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 22, 2024.
Despite the oversubscription, with the offering being more than two times oversubscribed, the shares closed at INR 1,819, lower than the initial public offering price of INR 1,960. The price band for the shares was set between INR 1,865 ($22.18) and INR 1,960. The IPO raised a total of INR 278.56 billion, or $3.3 billion, making it the largest IPO in India by the amount raised.
Looking forward, Hyundai Motor India Ltd. is committed to continuing its investment in India by enhancing its product portfolio, advancing technological capabilities and bolstering its research and development (R&D) efforts post-IPO.
Hyundai Motor Company – Advertisements and Social Media Campaigns
The all-new SANTA FE | AI Campaign Compilation Film
Hyundai Motor’s AI-Driven Campaign: “Open for Imagination”
Hyundai Motor is redefining marketing creativity with its innovative AI-generated campaign for the all-new SANTA FE SUV. The campaign, titled “Open for Imagination,” encourages Instagram users and adventure enthusiasts to visualize their dream destinations in a unique, interactive way.
AI-Powered Creativity
The campaign uses a customized text-to-image AI model to generate bespoke images that seamlessly incorporate the all-new SANTA FE into fantasy settings. From lush mountainscapes to futuristic cityscapes, the SUV’s bold, boxy styling, large tailgate and spacious interior provide the perfect backdrop for outdoor adventure and imaginative exploration.
Interactive Social Media Experience
On Hyundai Worldwide’s official Instagram account, users can create personalized images of dream destinations featuring the SANTA FE. This interactive experience highlights the SUV’s ‘Open for More’ concept, inviting users to dream big and explore the limitless possibilities it offers.
Engaging Influencer Activation
Social media influencers brought the campaign to life by using voice recognition technology integrated with the AI model. Sitting inside a real SANTA FE, they visualized dream destinations projected on a large LED screen, showcasing how the SUV can complement any adventure.
Inspiring Outdoor Adventures
By merging cutting-edge AI with the all-new SANTA FE’s adventurous spirit, Hyundai is inspiring users to “open for more” in their lives—whether it’s through outdoor exploration or imagining the impossible.
Hyundai Motor Company continues to garner international acclaim. Here’s a roundup of Hyundai’s recent achievements:
World Car Awards 2024
World Performance Car: The Hyundai IONIQ 5 N earned top honors, showcasing Hyundai’s prowess in delivering exhilarating driving experiences combined with cutting-edge electric technology.
Hyundai’s sister brand Kia EV9 dominated with two awards:
World Car of the Year
World Electric Vehicle
TopGear.com Electric Awards 2024
The Hyundai IONIQ 5 N was crowned Best EV Hot Hatch, highlighting its impressive combination of electric performance, sporty design and practicality.
2024 Red Dot Award
The Hyundai SANTA FE secured a win in the Product Design: Cars and Motorcycles category, a testament to its bold aesthetics and innovative design language.
iF Design Awards
Hyundai boasts a stellar record with over 20 iF Design Awards, marking a decade of consistent design excellence in categories spanning transportation and innovation.
2023 GOOD DESIGN Awards
Hyundai received six top honors, including four in the Transportation category, reflecting the brand’s commitment to innovative and user-centric automotive solutions.
The Car Connection’s Best Electric Car To Buy
For the second consecutive year, the IONIQ 5 was recognized as the Best Electric Car To Buy, underlining its unmatched appeal in the EV market.
2022 Top Safety Pick by IIHS
The Hyundai NEXO earned this prestigious safety accolade, reinforcing Hyundai’s dedication to advanced safety features and reliability.
Brand Valuation
Hyundai Motor Company’s global influence is highlighted by its brand valuation reaching $23 billion, securing the 30th spot globally in Interbrand’s Best Global Brands 2024 rankings.
Hyundai Motor India (HMIL) has set ambitious goals for its expansion in India, with plans to invest INR 32,000 crore between 2023 and 2032. This investment is aimed at reinforcing its leadership in the Indian automotive market, with a focus on sustainable growth and cutting-edge technologies. Key initiatives include:
Increase in Production Capacity
Hyundai intends to raise its production capacity from 824,000 to 1.1 million units by 2028. This expansion is designed to cater to the growing demand for vehicles in both domestic and export markets, ensuring Hyundai can meet the needs of its expanding customer base.
Development of New Products and Platforms
As part of its expansion strategy, Hyundai plans to develop new products and platforms, focusing on both traditional internal combustion engine (ICE) vehicles and electric vehicles (EVs). This initiative will help Hyundai diversify its product offerings to appeal to a broader audience.
Introduction of New Models
Hyundai will continue to innovate by launching new models, including vehicles catering to the growing demand for electric and hybrid cars. This will support its efforts to stay competitive in a rapidly evolving automotive market.
Strengthening Presence in the Battery Electric Vehicle (BEV) Market
Hyundai is committed to strengthening its position in the Battery Electric Vehicle (BEV) market in India. With the rise in demand for eco-friendly alternatives, Hyundai aims to expand its BEV offerings, contributing to the nation’s shift toward greener transportation.
Launching Hybrid Vehicles
In addition to fully electric models, Hyundai plans to launch hybrid vehicles, offering customers more choices in reducing their carbon footprint while enjoying the flexibility of both electric and gasoline powertrains.
Localization of EV Supply Network
A key aspect of Hyundai’s strategy is to localize the EV supply network in India, including the production of battery systems, cells and drive systems. This initiative aims to reduce costs, improve supply chain resilience and support the development of a sustainable EV ecosystem within the country.
Carbon Neutrality by 2045
Hyundai is committed to achieving carbon neutrality by 2045. The company’s roadmap includes electrifying its product lineup and investing in alternative energy sources such as hydrogen. This effort aligns with Hyundai’s global sustainability goals and aims to reduce the environmental impact of its operations.
Software-Defined Vehicles
Hyundai plans to leverage data from vehicles, traffic signals, infrastructure and satellite navigation to create a new mobility system. By integrating these data sources, Hyundai aims to build software-defined vehicles that offer enhanced connectivity, improved navigation and smarter, more efficient mobility solutions for the future.
Creation of Mobility Hubs
In a bold vision for the future, Hyundai plans to develop mobility hubs that integrate air taxis, autonomous vehicles and social interaction spaces. These hubs are designed to facilitate seamless, multi-modal transportation options and create new community spaces for consumers to interact with the future of mobility.
FAQs
Is Hyundai a Chinese or Korean car?
Hyundai is a Korean car brand. It is headquartered in Seoul, South Korea, and is one of the largest automakers in the world.
Who is the owner of Hyundai?
Hyundai Motor Group is the owner of Hyundai.
Who are the main competitors of Hyundai?
The main competitors of Hyundai include Ford, Volkwagen, Honda, Toyota, Nissan, General Motors, Renault, Fiat, and more.
With the rise in Electric Vehicles around the globe the market has grown in the past decade. There is a lot of competition among brands to bring out the best Electric Vehicles. The race is both in the two wheeler and four wheeler sectors. Not to forget the bigger vehicles too in this competition! If you are planning to buy an EV or want some information about the trending EVs globally then here is a listicle. Let us dive into the world of EVs and check out the top 10 EVs in the world.
Tesla, Inc. is an American electric vehicle and clean energy company founded in 2003, known for its mission to speed up the world’s transition to sustainable energy through innovative products and solutions. The company was established by engineers Martin Eberhard and Marc Tarpenning, with Elon Musk joining shortly after as a significant investor and later becoming the CEO.
The company has pioneered several key innovations in the automotive industry. High-performance electric vehicles, advanced battery technology, and autonomous driving capabilities are their innovations. Their contribution to the evolution of electric mobility include:
Tesla Roadster
Model S
Model 3
Model X
Model Y
Tesla’s impact on the market has been profound, as it has spurred a global shift towards electric vehicles. This is after it only disrupted traditional automotive manufacturers. The company has reported increasing sales figures. Also, a significant growth in both production and delivery, reflects a rising consumer demand. Besides electric vehicles, Tesla has expanded its portfolio to include energy storage solutions. This diversification aligns with the company’s overarching goal of promoting renewable energy and reducing reliance on fossil fuels.
BYD Auto
Company
BYD Auto
Founded
1995
Market Cap (September 2024)
$99.06 Billion
Origin
China
Website
byd.com
Top EV Companies – BYD Auto
BYD Auto, established in 1995, originated as a rechargeable battery manufacturer. Then it diversified into the automotive sector. The company has evolved into a leading player in the electric vehicle market. It is driven by its commitment to innovation and sustainability. Its headquarters are located in Shenzhen, China. The headquarters has developed a robust infrastructure for research and development.
The company offers passenger cars, buses, and commercial vehicles. BYD’s electric vehicle range is characterized by:
advanced battery technology,
impressive driving ranges, and
a focus on environmental sustainability.
Models such as the BYD Han and BYD Tang have gained attention for their performance and features.
BYD Auto has made significant strides in global expansion. This has helped in establishing a presence in various international markets. The company has formed strategic partnerships and collaborations to enhance its market reach. It has invested in local manufacturing facilities to meet regional demand.
Established in 1908, GM is evolving through various phases of innovation and adaptation. The company has increasingly focused on electrification, recognizing the need to transition from traditional internal combustion engines to EVs.
The launch of the Chevrolet Bolt marked a significant milestone for GM, as it was one of the first affordable all-electric vehicles to offer a substantial driving range, thereby making electric mobility more accessible to the general public. Additionally, the introduction of the Hummer EV represents a bold step in reimagining a classic brand, showcasing GM’s capability to produce high-performance electric vehicles that appeal to both adventure enthusiasts and environmentally conscious consumers.
GM’s long-term vision is centered around achieving an all-electric future, with ambitious goals to eliminate tailpipe emissions from new light-duty vehicles by 2035.
Volkswagen AG
Company
Volkswagen AG
Founded
1937
Market Cap (September 2024)
$52.74 Billion
Origin
Germany
Website
volkswagen-group.com/en
Top EV Companies – Volkswagen AG
Volkswagen AG is undergoing a transformation. It has shifted from conventional manufacturing to electric vehicles (EVs). The company is reflecting a strategic response to the evolving automotive landscape. This transition involves large investments in R&D, and new production facilities.
The ID series represents an innovative approach to electric mobility. It features a range of models designed to cater to diverse consumer needs. This series includes vehicles such as the ID.3 and ID.4. These are equipped with cutting-edge features and sustainable design elements. Volkswagen AG is dedicated to sustainability, aiming to reduce its carbon footprint. The company has set ambitious future goals, thereby contributing to a more sustainable automotive industry.
Hyundai Motor Company
Company
Hyundai Motor Company
Founded
1967
Market Cap (September 2024)
$43.79 Billion
Origin
South Korea
Website
hyundai.com/worldwide/en
Top EV Companies – Hyundai Motor Company
Hyundai Motor Company has made significant strides in the EV sector, focusing on innovative technologies and sustainable practices. The company aims to expand its EV lineup. It looks at investing in R & D for improve battery efficiency and charging infrastructure. This in turn promotes a greener automotive future.
Among the notable electric models introduced by Hyundai are
Hyundai Ioniq
Kona Electric
The Ioniq series offers a range of options, including
The Ford Motor Company has undergone significant transformations in response to the evolving automotive landscape. This shift has necessitated a comprehensive reevaluation of their product offerings. In line with this transition, Ford has launched innovative electric models such as:
Mustang Mach-E: an all-electric SUV that combines performance with eco-friendliness,
F-150 Lightning: an electric version of their iconic pickup truck.
These vehicles not only reflect Ford’s commitment to electrification but also aim to capture the interest of a diverse consumer base seeking modern, sustainable transportation options. To solidify its position in the market, Ford has developed plans that encompass increased investment.
Rivian Automotive
Company
Rivian Automotive
Founded
2009
Market Cap (September 2024)
$13.60 Billion
Origin
USA
Website
rivian.com
Top EV Companies – Rivian Automotive
Rivian Automotive was established with a mission to revolutionize the automotive industry. It aimed at producing sustainable electric vehicles. Such vehicles were designed to cater to the needs of adventure-seeking consumers. The innovation involved environmental responsibility.
The company has concentrated its efforts on developing electric trucks and SUVs. It aims to capture a significant share of the growing market for electric vehicles. The emphasis is given to offering products that combine rugged performance with advanced technology and eco-friendly features. Rivian has attracted large investment from various sources. Such investments have positively influenced its market reception. This has led to heightened interest and anticipation for its vehicle offerings.
NIO Inc.
Company
NIO Inc.
Founded
2014
Market Cap (September 2024)
$10.96 Billion
Origin
China
Website
ir.nio.com
Top EV Companies – NIO Inc.
NIO Inc. is a prominent electric vehicle manufacturer established in 2014. The company was founded by William Li. He aimed to create high-performance electric vehicles.
NIO vehicles stand out in the crowd by their cutting-edge features, which include
advanced battery swapping technology,
autonomous driving capabilities, and
focus on user-centric design.
These attributes not only enhance the driving experience but also address concerns such as:
range
charging times
positioning
The company has experienced growth since its start. It is marked by increasing sales figures and expanding market presence. With an aim to solidify its market presence, NIO plans to:
innovate product lineup
enhance service offerings
explore international markets
Lucid Motors
Company
Lucid Motors
Founded
2007
Market Cap (September 2024)
$8.91 Billion
Origin
USA
Website
lucidmotors.com
Top EV Companies – Lucid Motors
Lucid Motors was established with the vision of redefining the luxury automotive experience. The company aims to create high-performance electric vehicles. These vehicles not only meet but exceed the expectations of discerning consumers. They emphasize a commitment to environmental responsibility and cutting-edge design.
The flagship model, the Lucid Air, exemplifies the brand’s dedication to excellence. It features impressive specifications such as
a range of over 500 miles on a single charge,
rapid acceleration capabilities, and
spacious, luxurious interior equipped with state-of-the-art technology.
The vehicle’s design integrates aerodynamics and efficiency, showcasing a sleek silhouette. The company differentiates itself from traditional luxury automakers by focusing only on electric powertrains, thereby appealing to environmentally conscious consumers who seek high-end vehicles without compromising on performance or style.
Xpeng Motors
Company
Xpeng Motors
Founded
2014
Market Cap (September 2024)
$8.26 Billion
Origin
China
Website
xpeng.com
Top EV Companies – Xpeng Motors
Xpeng Motors, founded in 2014, has emerged as a significant player in the electric vehicle industry. It is driven by a vision to create intelligent and connected vehicles. These vehicles enhance the driving experience. The company was established in Guangzhou, China.
The company is renowned for its cutting-edge technology and advanced smart features such as:
autonomous driving capabilities,
intuitive user interface,
robust suite of connectivity options.
Xpeng’s vehicles are equipped with proprietary software and hardware that enable over-the-air updates, ensuring that customers benefit from the latest advancements in automotive technology.
In recent years,it has expanded its footprint beyond the Chinese market. This expansion is characterized by:
establishment of local partnerships,
introduction of its flagship models,
commitment to meeting the diverse needs of global consumers.
The top EV companies are Tesla Inc., Ford Motor Company, Hyundai Motor Company, Lucid Motors, General Motors, NIO Inc., Rivian Automotive etc.
Who is the No. 1 EV company?
Tesla is considered the market leader in the EV sector. The American company was founded in 2003 by multi-billionaire Elon Musk.
Which country is leading in EVs?
The country which is leading in terms of the production of EVs is China. China produces more than 60% of EV batteries around the world.
What is the full form of BYD?
Build Your Dreams also known as BYD is a China-based multinational high-tech company. BYD Auto is one of the leading EV manufacturers around the world.
Sports are one of the most entertaining activities not only for those who play but also for those who watch. One of the most popular sports all over the world has to be Football. It is played in over 200 countries and over 250 million players are associated with it. The best thing is we are going to witness another FIFA World Cup in just a few months. FIFA World Cup is an international football competition between the senior men’s national football teams who are members of the Fédération Internationale de Football Association (FIFA).
FIFA World Cup started its journey in 1930 and this year 32 teams will compete with each other for the trophy. For 92 years The World Cup has been entertaining the world and its people. All these years many companies have been a part of this as their sponsors, this year as well, FIFA World Cup is getting many sponsors from all around the world.
This year the competition is scheduled to start on 21st November 2022. In this article, we will talk about the brands that are associated with the World Cup and are sponsoring one of the biggest sports events of 2022. So, without any further ado, let’s look at the list of sponsors of Fifa 2022.
“To have a sponsor is better but to be a sponsor is the best.” -Anonymous
Ed techs are creating a wave in the business industry and Byju’s is India’s largest Ed-tech company. It was founded in the year 2011 by Byju Raveendran and Divya Gokulnath. The app has over 115 million registered users who are learning through this app. Recently, Byju’s has created history by becoming the first Indian official sponsor of The FIFA World Cup 2022. Byju’s paid approximately $30 to $40 million to become the official sponsor of Fifa.
Budweiser
Budweiser Logo
Budweiser is a beer brew brand that provides alcoholic beverages and merchandise. It is one of the most popular and well-known brands of beer in the world. The brand was founded in the year 1876. It is the largest selling beer in the United States of America. Budweiser has been the FIFA World Cup sponsor for more than 25 years and this is nothing different as it is officially sponsoring the FIFA World Cup 2022 as well.
Hisense
Hisense Logo
Hisense is a world-renowned Chinese multinational tech company popular for manufacturing consumer electronics products. The company was founded in the year 1969 by Zhou Houjian, the brand has been serving the world for over five decades and has become a promising company that is home to a number of electronics products. The headquarters is situated in Qingdao, China. Hisense is the official sponsor of the FIFA World Cup.
Vivo
Vivo Logo
Vivo is a well-known Chinese tech company founded in the year 2009 by Duan Yongping and Shen Wei. Vivo is known for providing high-tech smartphones to its customers; it is undoubtedly one of the leading brands of smartphones in the world. Vivo has always been part of some of the greatest sports events in the world. So, it is not something unusual that it has become the official sponsor of The World Cup 2022.
McDonald’s
Mcdonald’s Logo
The World’s leading Fast-food chain known for its burgers and fries was founded in the year 1940 by Richard McDonald and Maurice McDonald. With serving over 119 countries McDonald’s is a prime place to have breakfast and snacks. The company has become a brand that is loved by almost everyone. Such is its popularity that it also has become the official sponsor of FIFA World Cup 2022.
Crypto.com
Crypto.com is a cryptocurrency exchange app. The company was founded in the year 2016 by Bobby Bao, Rafael Melo, Gary Or, and Kris Marszalek and its headquarters is situated in Singapore. It is said to be the fastest-growing cryptocurrency platform and has over 400o employees all over the world. Crypto.com has become one of the official sponsors of the FIFA World Cup 2022.
Fédération Internationale de Football Association commonly known as FIFA and all its Partners are:
Wanda Group
Wanda Group Logo
Wanda Group is a Chinese multinational conglomerate, they are known for being the leading real estate company. Apart from that, it has also known for being one of the top children’s entertainment companies, Film Companies and Sports Companies. It was founded by Wang Jianlin in 1988. In 2016, Wanda Group signed as a Partner of FIFA and this year as well it is the Partner of the association.
Qatar Airways
Qatar Airways Logo
Qatar Airways is a five-star airline in Qatar. The airline was founded in the year 1993 by Akbar Al Baker, it is known for providing the best amenities to its customers, for being clean, for giving fine quality food and services and of course for comfortable seats. Qatar Airways is the Official Partner of FIFA 2022.
Coca-Cola
Coca-Cola Logo
Coca-Cola is the multinational beverage company that rules the industry of Soft drinks. The brand started its journey in the late 19thcentury and since then it has been the top brand of soft drinks. It can be found in over 200 countries and the headquarters is situated in Atlanta, The United States of America. Coca-Cola is one of the longest Partners of FIFA, the collaboration began in 1974, in the FIFA World Cup 2022, it is also the Official Partner of FIFA.
Adidas
Adidas Logo
Adidas is a German multinational and the second-largest sportswear manufacturer company in the world. It was founded in the year 1924 by Rudolph Dassler and Adolf Dassler. The brand is most famous for its footwear collections. Since 1970 Adidas has been associated with FIFA as its official partner, it’s been over 50 years the brand is continuing its journey with FIFA. It is the official partner of FIFA in the World Cup.
Visa
Visa Logo
Visa is an American multinational financial services organisation that was founded in the year 1958; it was launched by the Bank of America. It is the most popular and the largest card payment organisation in the entire world. Visa is the partner of FIFA since 2007 and this year as well it is the Official Partner of FIFA World Cup 2022.
Hyundai
Hyundai Logo
Hyundai is a world-known multinational company that is into automotive manufacturing. It was founded in the year 1967 by Chung Ju-Yung. The headquarters is based in Seoul, South Korea. Hyundai started its journey with FIFA in 1999 and since then it has been accustomed to the association for years. This year as well, Hyundai is the Official Partner of FIFA.
With the biggest sporting event of Football right around the corner, it will be exciting to watch who will be the next sponsors of the World Cup 2022. It is definitely one of the most awaited sporting events in the world so brands will fight their way to be associated with it.
FAQs
Who are the sponsors of World Cup 2022?
Byju’s, Budweiser, Hyundai, Visa, Qatar Airways, Adidas, Wanda Group, McDonald’s, Vivo, and Hisense are the sponsors of FIFA World Cup 2022.
How many teams are there in World Cup 2022?
There are 32 teams in the FIFA World Cup 2022.
When will FIFA World Cup start?
FIFA World Cup will start on 21st November 2022.
Who is holding the World Cup in 2022?
Qatar is hosting the FIFA World Cup 2022 and the country will make its first appearance in FIFA World Cup 2022.
Tesla is an electric vehicle producer headquartered in California. It was founded by Martin Eberhard and Mike Tarpenning in 2004. The company was named as a tribute to electrical engineer Nikola Tesla. In February 2004, via a US$6.5 million investment, X.com co-founder Elon Musk became the largest shareholder of the company and its chairman. He has served as CEO since 2008. The company manufactured its first car in 2009, named The roadster. It was followed by new and efficient models ever since.
Tesla supercharger is a fast charging vehicle technology made by Tesla. It is a 480-volt direct current fast charger for all their electric cars. The Supercharger network was introduced on September 24, 2012, with six Supercharger stations. As of February 18, 2021, Tesla operates over 23,277 Superchargers in over 2,564 stations worldwide[2] (an average of 9 chargers per station).
Tesla launched the “Destination Charging location” network in 2014. Equipping chargers to hotels, restaurants, shopping malls and resorts to provide on-site vehicle charging at twice the power of default home charging.
Tesla broke ground on the Gigafactory in June 2014 outside Sparks, Nevada. The name Gigafactory comes from the word ‘Giga,’ the unit of measurement representing “billions.” The Gigafactory is being built in phases so that Tesla can begin manufacturing immediately inside the finished sections and continue to expand thereafter.
Tesla opened its first Gigafactory in Shanghai, China. It was impressively built in less than Six months. It was also the first automobile factory fully owned by outside authority in China.
Gigafactory (Image via Tesla)
Watch Below Governor Brian Sandoval and Elon Musk, Chairman and CEO of Tesla Motors, announced that Nevada has been selected as the official site for the Tesla Gigafactory. Tesla will build the world’s largest and most advanced battery factory in Nevada which means nearly one hundred billion dollars in economic impact to the Silver State over the next twenty years.
Tesla India Motors And Energy Private Limited is a subsidiary of Tesla Inc. The company was registered on 8 January 2021 in Bengaluru, Karnataka. It has officially registered with the Registrar of Companies in India at its Bengaluru office. Transport Minister Nitin Gadkari has confirmed the entry of Tesla in India
Tesla should “make cars in India, sell in India and export from India,” and rely on local suppliers, Gadkari said at an India Today Conclave
Though there has been no formal announcement by the company on its India plans yet. Whatever be the plans the company is asked to manufacture and then sell in India and not to sell cars “Made in China”.
The Future is Electric, this is not a future sentence anymore. We are already witnessing companies manufacturing and people moving to Electric vehicles. Several top performers in this field in India are pointed below.
Tata Electric
Tata EVs | Tata Electric Vehicles
Tata is an already established and trusted brand in India. In order to boost EV future plans the company plans to invest $1 Billion Tata Motors electric vehicle subsidiary, Tata Electric. Tata Motors recently struck a deal to raise Rs 7,500 crore from TPG Rise Climate and Abu Dhabi’s ADQ. This is a major fundraising by an Indian carmaker to boost the clean transportation segment. For now the company has introduced two EVs in market:
Hyundai Motor Company is a South Korean multinational automotive manufacturer headquartered in Seoul, South Korea. They also hold a dominant share in Indian car segment through their operations in India. They launched their first EV, The Kona Electric to tap the newly formed demand in this sector.
The automotive giant is not left behind in the market of EVs. It has already started to manufacture automobiles that are powered by electric means.
Examples Include:
eVerito
eSupro
e2oPlus and more
Morrison Garages India
Morrison Garages
British automotive founded by Cecil Kimber in the 1920s, and M.G. Car Company Limited.The Indian subsidiary was set up in the year 2017 and began its sales and manufacturing operations in 2019. Now, it is a celebrated car brand in India. Last year it came up with the MG, ZS EV. The MG ZS EV is not just India’s first pure Electric Internet SUV, but also a catalyst for change. The EV is powered by i-Smart EV 2.0. Style, substance, performance.
Mercedes Benz
The car brand that is synonymous with luxury, came up with an all electric vehicle in oct 2020. The Mercedes Benz EQC Electric, with the same elegant style and the same robust lux that is always expected from the automobile manufacturer.
Mercedes EV Launch
Tesla’s India Specific Challenges
Charging Infrastructure
The one necessity of electric vehicles is its charging demands and it’s a new concept to the world. So generally charging Infrastructure becomes a little problem for developing countries. In a developing country like India, The charging Infrastructure that is needed to jump on the EV trend is not ready. There is a lot of space left to fill in this domain. The Government of India is trying and boosting the process to develop the infra as soon as possible.
Cost
Another crucial thing in an EV is the battery, The lithium Ion battery. Every EV is powered by a battery that has to be imported in India. In case of four wheelers, Most EVs in India provide a range of 200 to 250 km and cost between Rs 14-20 lakhs which does not give a cost advantage compared to higher range cars in the same price range.
Lack of Renewable Energy
In India most of the electricity is made by coal burning. If we see EVs running in our markets then electricity demand will shoot up. Which will moreover push the companies to produce more and more electricity. Which will cancel out the motive of reducing the greenhouse gas emission because coal burning itself emits GHGs.
Tesla has plans of getting in the Indian market and most probably it will enter. But the company will see many aforementioned edges and challenges that will ruffle their feathers, Like the Charging Infra, GHG emissions and Cost control issues. Moreover, seeing the current face of the government, and watching the relations with China, it will oppose selling “Made in China” cars in Indian Markets. Either Tesla has to start manufacturing in Indian Borders or have to find other ways to tackle the obstacle. In a nutshell, we can say that If the company has to expand and plant roots in our subcontinent, then it has to be agile and innovate in accordance to the demands here. It will have to improvise a bit.
FAQs
Is Tesla allowed in India?
Tesla has got approval for four of its variants by the Indian government.
Which Indian company ties with Tesla?
Sona Comstar Ltd., Sandhar Technologies Ltd. and Bharat Forge Ltd. are among some Indian companies already supplying components to Tesla.
Does Tesla manufacture only electric cars?
Tesla builds not only all-electric vehicles but also manufactures scalable clean energy generation and storage products.
Autogas is understood as automotive LPG, which is a mixture of propane and butane. It’s widely used as “Green” fuel, as its use reduces greenhouse emission. It’s the foremost convenient variety to petroleum-based fuels, gasoline, and diesel utilized in transport. In recent times, most of the countries have well-developed autogas markets. It emits fewer hydrocarbons, monoxide, and oxides of gas. It will increase engine longevity as a result of its high measure.
It helps in reducing the carbon emission compared to gasoline and diesel. Many governments around the world are actively encouraging the employment of autogas in recognition of its varied environmental advantages and cost-effectiveness.
With the threat of global climate change rising Brobdingnagian, the necessity for apace deploying clean fuels for transport has never been pronounced.
Compared to other fuels autogas is an efficient source of fuel as it is cheaper than other available fuels. LPG vehicles are cheaper than other vehicles.
Comparing Autogas With Other Fuels
Autogas v/s Petrol
Cost: The price of automobile fuel cars is less than the value of gasoline cars. Autogas saves costs.
Octane rating: Automobile LPG incorporates a higher measure compared to gasoline.
Auto LPG could be a liquified gas; whereas, gasoline is liquid at gas pressure.
Autogas vs CNG
Auto LPG will run three times space on a full tank compared to CNG.
The conversion value of LPG is 50% less that of CNG.
Automotive LPG vehicles are cheap, as compared to CNG.
LPG is safer as a result of low tank pressure as compared to CNG.
India Autogas Market
It is calculable that there are 2.38 million vehicles capable of running autogas in India, and the majority is of three-wheeler vehicles. The chief makers currently provide models intrinsic with autogas. There is an increase in sales of automobile LPG of fourteen percent because of the hike in costs of gasoline and diesel. The entire sales were around 400,000 tonnes within the year 2017-2018.
Autogas Dispensing Stations Across India(2008-2020)
The transportation sector is increasing the employment of autogas fuels, thus, making the expansion of the market. This increasing demand for cleaner fuels is the major market driver. Indian automotive LPG has reached $ 5.15 million units within the year 2019 and is anticipated to expand. Factors contributing to the present growth embrace rising demand for economical fuels compared to traditional fuels. There is an increase in the demand for environment-friendly fuels to decrease the pollution level in India.
The marketplace for autogas is growing as a result of the autumn in its costs, relative to alternative fuels like petrol and diesel. In most cities, three-wheeler rickshaws: a vital part of public conveyance is currently being regenerated to autogas running vehicles. Across the state, 1350 filling stations are there for automotive LPG in five hundred cities in states chiefly Andhra Pradesh, Gujarat, Kerala, Karnataka, Tamil Nadu, and Maharashtra.
Companies Providing Autogas Vehicles
Future Of Autogas In India
According to the Indian automobile LPG Coalition(IAC), LPG vehicles can cross the three million mark within the next 5 years in India. It is expected that three million autogas vehicles can run in India by the year 2022. At present, 2.3 million autogas vehicles are running, with a median of 10000-16000 vehicles remodeled monthly.
“Due to the earliest stages of the event of electric vehicles, the state of affairs for LPG is a lot of positive. It provides a lot of opportunities for autogas in today’s market. Moving forward, we can see three million vehicles running on LPG if the govt offers a transparent roadmap on various cleaner fuels,” aforementioned Suyash Gupta, Director General, Indian automobile LPG Coalition.
The reason behind the expansion of autogas is its cost. The cost per unit of LPG is fifty percent to that of diesel and gasoline. As winter is approaching, the considerations concerning air pollution and its harmful effects can reappear; thus, the government ought to encourage the use of cleaner fuels as autogas emits sixty-eight percent fewer oxide than gasoline and ninety-six percent than diesel. Autogas reduces vehicle emissions. Hence, five hundred cities have already got autogas filling stations. A lot of regions may be brought below the reach instantly, as autogas does not need pipelines and can be shipped easily.
Advantages and Downsides of LPG Hopped-up Vehicles
Advantages:
Autogas offers low running prices.
Cheaper than gasoline and diesel.
Lower service value because of less wear and tear of engine parts.
Environmental advantages – less harm to surroundings(reduce emissions of Carbon dioxide).
Higher compression will increase power output.
Disadvantages:
Extra value in shopping for an LPG automotive.
Problems in finding LPG service stations.
Government Incentive Policy
The chief government policy incentive for autogas is the excise tax exemption. The government has removed restrictions on the retail costs of autogas, petrol, and diesel; this suggests that the businesses are liberal to revise their autogas costs monthly. Once the introduction of the Goods and Services Tax(GST)on first July 2017, the taxation of LPG modified, that favored the autogas market. After the GST reform, LPG is taxed at one rate of eighteen in all sectors. This shift in costs provides a major boost to autogas demand in India.
The Indian autogas market began to increase in 2008. Still, the consumption of autogas is low as compared to alternative fuels. Autogas is the best energy supply that is present in abundance at present and prepared for future use. It’s the third most used fuel in the world. Autogas is convenient and low maintenance fuel. It impacts air quality. It helps in reducing the carbon emission compared to gasoline and diesel. Various governments around the world are actively encouraging the employment of autogas in recognition of its varied environmental advantages and cost-effectiveness.
Archana Karthikeyan
