Hyundai Motors India share price rally 3% on new electric Creta launch

The competition in the electric car segment is set to heat up as all major car manufacturers announce new product launches. The country’s largest car maker, Maruti Suzuki, is also expected to unveil the fully electric SUV Vitara in the coming automobile expo. Tata Motors and Mahindra & Mahindra too have announced new electric vehicles in similar segments in the past few months.

The new Creta will be launched with two different battery pack options: one with 51.4 Kwh, offering a driving range of 473 km, and the other with 42 Kwh, offering 390 km on a single charge. Hyundai CRETA Electric can be charged from 10% to 80% in just 58 minutes (DC charging), while the 11kW Smart Connected Wall Box charger can charge from 10% to 100% in an impressive 4 hours.

The company reported sluggish monthly sales for December, with total sales falling 2.4% YoY to 55,078 units. On an annual basis, sales remained flat for 2024 at 7,64,119 units, compared to 7,65,786 units in 2023.

In addition, the company plans to have nearly 600 fast Public EV charging stations in the next 7 years, accelerating the early adoption of EVs.

Mr. Tarun Garg, full-time director and Chief Operating Officer of Hyundai Motor India Limited said, “The Hyundai CRETA Electric marks a significant milestone for HMIL as our first localised electric SUV.

Following the announcement, shares of Hyundai Motors India jumped 3% to hit an intraday high of ₹1,854 apiece on the NSE.