Manning director ss Kim said, ‘We have the product and technology, and we are reviewing the condition and infrastructure situation of the Indian market. Hyundai Motor Company is one of the early adopters of electric technology, and we have various electric products. We are also very advanced in hydrogen fuel cell vehicle technology. Kim said that only Hyundai and Toyota sell these vehicles in the global market.
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Delay due to corona- Due to the corona virus pandemic, infrastructure development for electric vehicles was affected, which could lead to project delays. Hyundai has managed to emerge as a market-leader in the fast-growing-support-utility (SUV) segment, despite a steep decline in vehicle sales in the current fiscal year due to slow-down due to Corona. Hyundai has managed to outrank Maruti Suzuki India Ltd. due to the increasing demand for its Creta and Venue models.
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Hyundai made this demand from the government The government is expected to introduce the second phase of corporate average fuel efficiency and real-time driving emission (RDE) test norms by 2022 and 2023 respectively, but the auto industry has urged that the regulation be postponed. These regulations affect the post-pandemic-cell. Implementation of CAFE (Corporate Average Fuel Efficiency) Norms and RDE Norms means an increase in material costs, and this will eventually lead to price increases.
Kim said, ‘We are afraid that this will affect the demand and hurt the consumer’s sentiment. As a company, Hyundai is ready if the government decides to implement it from the original date. Electrification of vehicles will play an important role in India. The South Korean carmaker’s local unit will focus on providing mobility services rather than just selling cars, along with the launch of digitally connected products to keep pace with changing needs.