Hyundai Motor lines up $200 million for electric vehicle mass market

The Korean automobile company recently launched an electric car named Kona in India

Days after launching India’s first long-range green SUV Kona, Hyundai Motor said it is planning to develop a new electric vehicle (EV) platform for the country with a $200-million investment to tap the mass market.

“We are working on a (electric) platform, which would be for the Indian mass market and cost around $200 million,” said S S Kim, MD and CEO of Hyundai Motor India. He said the product may be launched in three-four years. 

With Kona catering for the high-end market, the South Korean automobile conglomerate wants to introduce a product in the EV segment to address the