Hyundai Fights Back: 26 New Cars by 2030 – ICE, EVs, and Hybrids Incoming!

Once firmly positioned as India’s second-largest carmaker, Hyundai is now taking strategic steps to regain its momentum. After slipping to fourth place in April 2025 behind Tata and Mahindra, the company has unveiled an aggressive new product strategy: 26 new models by FY2030, of which 20 will be ICE vehicles and 6 will be electric vehicles (EVs).

The announcement comes at a crucial time for Hyundai Motor India Ltd. (HMIL), which has seen its dominance challenged in a rapidly evolving market. The brand is now clearly betting on product diversity, eco-friendly technologies, and feature-rich vehicles to strengthen its position.

“We are excited to announce an aggressive launch pipeline of 26 products (including refreshments) by FY2030, comprising 20 ICE and 6 EVs,” said Unsoo Kim, Managing Director of HMIL. “Additionally, we shall be introducing new eco-friendly powertrains like Hybrids.”

Sales Performance and Segment Trends

In FY25, HMIL sold 6,14,721 vehicles domestically, reflecting a 2.6% year-on-year decline. However, exports remained steady at 1,63,386 units, with a modest 0.1% growth compared to the previous year.

SUVs continue to drive Hyundai’s portfolio, contributing to 69% of total sales, up from 63% in FY24 and 53% in FY23. Even rural markets showed stronger SUV preference, with penetration rising to 67% from 60% the previous year.

Feature-Led Premiumisation Strategy

Hyundai’s continued investment in premium features appears to be resonating with buyers. Penetration of ADAS doubled from 7% to 14%, sunroof-equipped models increased from 48% to 53%, and the company now has over 7 lakh connected cars on Indian roads.

The Creta EV, launched in January 2025, has quickly gained traction. It saw 80% of bookings for its long-range variant, and 70% of customers opted for the top-end Excellence LR model. The vehicle also marks a milestone as Hyundai’s first indigenously developed EV.

EV, CNG, and Hybrid Direction

Hyundai’s overall EV penetration stands at 9%, powered by the Ioniq 5 and the Creta EV. The company is also expanding in the CNG segment, with its market share rising from 11% in FY24 to 13% in FY25. While no hybrid models have been released yet, HMIL confirmed its intention to introduce eco-friendly hybrid powertrains soon.

Localisation and Export Growth

Reinforcing its commitment to ‘Atmanirbhar Bharat’, Hyundai has onboarded 50+ new local vendors over the past five years and now sources over 1,200 components locally. Localisation improved from 78% in FY24 to 82% in FY25.

Cumulatively, Hyundai remains India’s leading car exporter, celebrating 25 years of export operations. Recent export highlights include sending the Exter to South Africa and the Creta EV to Nepal, pointing to new market expansion.

Financials and Long-Term Investment

Despite a challenging year domestically, Hyundai maintained strong financials:

Revenue: ₹69,829 crore (~$816.2 million), down just 0.9% year-on-year
EBITDA: ₹9,132.6 crore (~$106.7 million), with a margin of 13.1%
EBIT: ₹6,060 crore (~$70.8 million), margin of 8.5%
Profit After Tax (PAT): ₹6,924.7 crore (~$80.9 million), sustaining a 9.9% margin

The company invested ₹7,000 crore (~$81.8 million) in capacity expansion and long-term growth. While depreciation from new infrastructure impacted pre-tax profits, the overall outlook remains positive.

What to Expect Next

For FY26, Hyundai expects domestic growth to stay flat, aligning with overall industry forecasts. However, the brand is targeting 7–8% growth in exports and aims to maintain double-digit EBITDA margins.

More specifics on upcoming ICE, EV, hybrid, and full-model-change products will be shared at the upcoming Hyundai Investor Day 2025.

With a focused product pipeline, renewed localisation efforts, and a balance between scale and sustainability, Hyundai seems prepared to reassert itself in India’s automotive market. The road ahead is competitive, but the direction is now clearly defined.