Hyundai eyeing 14 percent EV market share with Creta Electric and future models

Hyundai Motor India, which launched the Creta Electric starting at Rs 17.99 lakh, stated that the introduction of this model could be the tipping point for India’s EV sales growth this year. In the mid to long-term, the company is eyeing a market share of over 14 per cent in the EV segment, owing to Creta Electric and future launches.

“India is at an early stage of electrification. Last year, four-wheeler EV volumes were about a lakh, with a penetration of 2.5 percent. By 2030, probably the penetration will be 15 to 20 percent. We think that 2025 and 2026 will be the trigger years, where the volume jumps, and Creta Electric could be the big trigger for that to happen,” said Tarun Garg, chief operating officer of Hyundai Motor India, at the Bharat Mobility Global Expo 2025.

1. The Creta helped increase India's SUV market share from 13 percent in 2015 to 53 percent today
2. Hyundai sold nearly 1.9 lakh Cretas in 2024, an 18 percent increase
3. The Creta Electric is priced slightly higher than the Curvv EV but lower than the BE 6 

He explained that when Hyundai launched the Creta in 2015, SUVs made up just 13 percent of the overall market. The Creta revolutionised this segment, and today, SUVs account for 53 percent of the market, with Hyundai’s internal SUV share reaching 68 percent. Garg believes the Creta Electric could have a similar impact on the EV sector, with the electric vehicle market potentially doubling by 2026.

“We have sold 1.1 million (11 lakh) Cretas so far. When a big transformation like ICE to EV is happening, customers are looking for reliability. Customers are looking for comfort. The Creta Electric will be a big trigger for customers to really see and buy it for a strong brand, a strong product, a great technology, charging infrastructure and, of course, the great price,” he said.

The Creta sold nearly 1.9 lakh units last year, marking an 18 percent growth. However, Garg refrained from putting specific numbers on future sales of the Creta Electric. "I will not like to put a number to it because numbers restrict you. At the same time, I would say that our production lines are very fungible. As the demand will come, we will keep on looking at the market,” Garg added.

Hyundai's Creta Electric comes with two battery options: a 42kWh with a 390km MIDC range and a 135hp motor, and a 51.4kWh boasting a 473km range and a 171hp motor. Ranging between Rs 17.99 lakh and 23.50 lakh (ex-showroom), it is priced higher than the Tata Curvv EV (Rs 17.49 lakh-21.99 lakh) but undercuts the MG ZS EV (Rs 18.98 lakh-26.64 lakh) and Mahindra BE 6 (Rs 18.90 lakh-26.90 lakh).