Hyundai Motor India Ltd (HMIL) announced plans to install nearly 600 public electric vehicle (EV) fast charging stations nationwide over the next seven years. By the end of 2024, the company will have 50 fast charging stations operational, targeting key highways and major cities.
The shares of Hyundai Motor India Lt (HMIL) were trading at ₹1,829.70, down by ₹28.80 or 1.55 per cent on the NSE today at 12:57 pm.
The initiative addresses customer concerns about EV charging infrastructure, with Jae Wan Ryu, HMIL’s Corporate Planning Head, noting that range anxiety has been a significant barrier to EV adoption. Currently, HMIL has already facilitated approximately 50,000 charging sessions, delivering over 730,000 units of energy to more than 10,000 EV customers.
The company has signed a memorandum of understanding with the Tamil Nadu government to establish 100 EV charging stations in the state by 2027, with 10 stations set to be operational in 2024. HMIL’s myHyundai app provides access to over 10,000 EV charging points across India through partnerships with providers like ChargeZone, Statiq, and Shell India.
The charging stations are designed to be inclusive, supporting all four-wheel EVs manufactured in India and located strategically in cities including Gurugram, Mumbai, Pune, Bengaluru, Hyderabad, Ahmedabad, and Chennai. As of November 2024, HMIL has sold over 4,061 EVs, including the IONIQ 5 and KONA models.