Hyundai Partners With Tata Power To Set Up EV Charging Infrastructure Hyundai EV owners will be provided an end-to-end home charging solutions from supply to installation
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Hyundai Motor India on Tuesday announced a partnership with Tata Power to set up fast-charging electric vehicle infrastructure across its selected dealerships in the country. As per a statement, Hyundai Motors currently has a network of 34 EV dealers in 29 cities.
"The company is glad to announce its partnership with Tata Power to facilitate and strengthen India's robust EV ecosystem and enhance the general outlook on sustainable transportation. Such strategic partnerships are fundamental in accelerating the adoption of EVs by customers to achieve the national goal of carbon neutrality," said Unsoo Kim, CEO and MD, Hyundai Motor India, in a statement.
As a part of this partnership, Hyundai EV owners will be provided an end-to-end home charging solutions from supply to installation. The charging stations at Hyundai dealerships will be open for all electric vehicle customers and accessible through Hyundai and Tata Power EZ Charge mobile app, which will enable the customers to navigate, locate, make payments, access live status and pre-book slots for the charging stations for a hassle-free and smooth vehicle charging experience, claimed the company in statement.
"Tata Power's expertise in EV charging space coupled with comprehensive charging solutions and countrywide ownership of Hyundai vehicles will help in the development of sustainable mobility infrastructure, boosting faster EV adoption," said Dr. Praveer Sinha, CEO and MD, Tata Power, in a statement.
According to recent reports, Hyundai Motor Groups said on Wednesday that it plans to invest a total of $16.54 billion in 2030 for the expansion of its EV business in South Korea. The South Korean auto group, that houses Hyundai Motors Co. and Kia Corp, plans to build 1.44 million units of EVs in South Korea by 2030.
The auto group was in a news report quoted as saying, "The 1.44 million units of EV production volumes in South Korea would account for about 45 per cent of a combined global EV production capacity of 3.23 million EV units in 2030."
Electric vehicle market, reportedly, is estimated to reach $802.81 billion at a CAGR of 22.6 per cent by 2027, whereas electric vehicle charging station market is expected to reach a CAGR of 38 per cent.