Hyundai Motor Co. launched India’s first electric SUV this summer with a quirky TV commercial urging millennial to “Drive into the Future." A few months later, the automaker finds itself on a lonesome road.
In a nation of about 150 million drivers, only 130 Kona SUVs were sold to dealers through August. That slow pace is emblematic of the difficulties car makers face in establishing an electric foothold in the fourth-biggest auto market, even with committed government support.
The Kona sells for about $35,000 while the average Indian earns about $2,000 a year and the best-selling gas guzzler costs $4,000. Yet Kona’s sticker price only kicks off the conversation about why EVs aren’t gaining traction in india there’s also a lack of charging infrastructure, a reluctance by banks to finance purchases and an unwillingness among government departments to use EVs as directed.