The Indian subsidiary of Hyundai is looking to increase its EV presence in the country and invest in a localised EV production supply chain. To do this, the company is planning an IPO that is set to be India’s largest in history, from 2025 it will release four new EV models and it will expand its EV production capabilities with the objective of making India an exporting hub.

Hyundai makes big plans for India’s EV market

India’s largest IPO to date

In mid-June, Hyundai filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) initiating its IPO process. The company aims to raise up to USD3 billion by offering a 17.5% stake, valuing the company at up to USD30 billion. This financing will support Hyundai’s next phase of expansion in the world’s third-largest automotive market.

Electrification of its offerings in India

Hyundai currently offers just …

Image credit: Adobe Stock

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