These fast-charging stations will also be open for use by EV users from other brands but will be offered at a lower cost to Hyundai customers. The exact details of these prices are yet to be revealed, but we expect them to be around 15% lower than the standard tariff. Customers of other brands can access stations using Tata Power Easy Charge mobile app. It is a given that these fast-chargers will allow faster charging of the battery but the exact timings for the Kona and IONIQ5 are yet to be revealed. That said, expect a 0-80% charge in the region of 40 minutes, which is on par with other premium EVs on sale in India.
From a long-term perspective, the more important conclusion from this announcement is that Hyundai and Tata Power will develop and offer end-to-end charging solutions for buyers at home or at the location of their choice. This will help address range anxiety, which is currently one of the major hurdles for potential EV buyers. This will also give Hyundai an edge over some of its rivals who currently sell EVs but do not have a fast-charging network in their dealer network. At present, MG Motor is the only company in India to sport such a network.
Under the agreement, Hyundai will be responsible for building the location and obtaining administrative approvals for the stations, while Tata Power will operate and maintain them.
Commenting on the announcement, Mr. Ansu Kim, MD & CEO, Hyundai Motor India Limited said, “Realizing Hyundai’s global vision of ‘Progress for Humanity’ and in line with our new brand direction of going ‘Beyond Mobility’, Hyundai Reaffirming Hyundai’s vision to enable Motor India to integrate social responsibility with economic prosperity and community welfare, Tata Power’s commitment to facilitating and strengthening India’s strong EV ecosystem and enhancing the common vision on sustainable transportation We are pleased to announce our partnership with the number of electric vehicles used by customers to achieve the national goal of carbon neutrality.
Dr. Praveer Sinha, CEO and MD, Tata Power said, “Our association with Hyundai Motor India is aligned with the Government of India. National Electric Mobility Mission Scheme and demonstrates our commitment to lead India’s clean energy and net-zero goals. Tata Power’s expertise in the EV charging space, coupled with comprehensive charging solutions and nationwide ownership of Hyundai vehicles, will aid in the development of sustainable mobility infrastructure, driving rapid EV adoption.”
It is to be noted that this announcement is in line with Hyundai’s increasing focus on EVs both globally and in India. The company already sells the Kona Electric, which is to be facelifted in 2022. The IONIQ5 will be positioned in the more premium segment and will be introduced later this year. There is also a locally developed mass-market EV that Hyundai is working on, which is expected to be launched in 2024.
Clearly, investing in a comprehensive charging infrastructure from now on will pay dividends until the arrival of Hyundai’s Made for India EV in 2024. With the increased policy push and increasing consumer interest in electric mobility, Hyundai has been empowered to launch its plans. With. Hopefully, they will be able to work hard on this and bring the network to the point where it also helps in overall electric mobility in India.