Speedbreaker: Semiconductor issues still hurting but supply constraints easing says Hyundaii
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Slowly easing supply side constraints for semiconductors as well as stabilising commodity prices has charged-up Hyundai Motor India's outlook for 2022.
Besides, the automobile major expects healthy demand to sustain during the initial phase of next year.
In conversation with IANS, Hyundai Motor India's Director Sales and Marketing Tarun Garg said though it is hard to give a timeline for normal supply of semiconductors, however, the shortages have eased.
"Semiconductor and input cost issues are global in nature but things are getting better. However, it is very difficult to give an exact timeline as to when we will overcome these issues."
"Under the guidance of our parent company HMC, we are collaborating across the board with our vendors, our dealers and within the cross divisions of the company to get out of this situation as fast as possible."
On the demand side, Garg said the company expects healthy demand conditions to remain during the initial phase of next year.
"Demand has been very good even post-Covid 2 (second wave) due to the shift towards personal mobility."
"We expect demand to remain healthy even during next year. On our side, we will continue to work our way out of the supply side shortages. As and when the supply side situation normalises we will cater to that demand."
However, even as sales' prospect seems promising, Garg cautioned against an element of uncertainty surrounding the pandemic's progression.
Besides, he talked about Hyundai Motor India's electric mobility plans for the market by 2028.
According to Garg, the company will line up six battery-run electric vehicles during the period.
"We will expand our 'Battery Electric Vehicles' by introducing six models by 2028. These will include different body types such as SUVs."
"In all, we plan to invest approximately Rs 4,000 crore for R&D towards the expansion of six electric vehicles till 2028."
Notably, the lineup will include 'Mass' and 'Mass Premium' segment models which will be affordable.
"We are looking for strategic partnerships to improve charging infrastructure."
"Even today, we are giving a home charger with our Kona EV. We are also working on enhancing the range of these EVs. Today across 15 cities in 108 dealership we have our chargers."
Currently, the company has a partnership with Indian Oil Corporation for chargers.
At present, Hyundai Motor India has 12 car models across various segments.
(Rohit Vaid can be contacted at rohit.v@ians.in)
