Saudi Oil Tankers Reverse Course as Houthi Threats Disrupt Red Sea Shipping 
Macquarie Names Greg Ward as CEO, Signaling Stability and Strategic Continuity 
Nasdaq Drops as AI Earnings, Oil Surge and Middle East Tensions Weigh on Wall Street 
Belimo H1 Sales Surge as AI Data Center Cooling Drives More Than Half of Growth 
Alphabet Q2 Earnings Beat Estimates as AI Spending, Google Cloud Growth Fuel Outlook 
Cathay Pacific Sees H1 Profit Surge on Strong Travel Demand 
US Stock Futures Rise as AI Optimism Lifts Tech, 3M Jumps on Strong Earnings 
Japan PM Sanae Takaichi Unveils Growth Plan as BOJ Independence Concerns Lift Bond Yields 
IBM Q2 Earnings Miss Estimates as Software Growth Offsets Infrastructure Weakness 
Oil Prices Rise as Houthi Attacks on Saudi Tankers Heighten Middle East Supply Fears 
Domino’s Weighs Appeal After Australian Court Rules Workers Were Misled on Pay 
Judge Approves Anthropic’s $1.5 Billion AI Copyright Settlement With Authors 
ASML Trillion-Dollar Valuation: Can Europe’s AI Chip Giant Reach the Historic Milestone? 
Asian Stocks Rise as Oil Retreats on Iran Ceasefire Hopes Ahead of Key AI Earnings 
Ryanair Warns Summer Airfares May Stay Lower as Quarterly Profit Misses Estimates 
Gold Price Surges Above $4,100 as Middle East Tensions Boost Safe-Haven Demand 
ASEAN Ministers Warn Middle East Conflict Threatens Regional Stability and Energy Security 
Hyundai Motor revealed its plan to release six electric vehicle models in India by the year 2028. The South Korean automaker said the EVs would include sports utility vehicles and sedans.
Hyundai Motor will be offering its new EV models at both premium and affordable prices. The company is investing $530 million or around 40 billion Indian rupees on research and development to make the six EVs in the country.
According to The Korea Economic Daily, starting 2022, the automotive manufacturer will release the EV versions of its existing models. It was added that these units are going to be built either on its proprietary E-GMP EV platform or on a modified platform of the gas-powered vehicle units.
Hyundai Motor is currently the second-largest auto brand in India, and it is working to revive its goal of infiltrating the EV market in the country. Three years ago, it already introduced the KONA electric SUV, but the company failed to attract consumers because of the unit's high price plus, charging stations are also scarce.
Thus, the release of the six upcoming EV models will be Hyundai Motor's second attempt to grow its EV business in India. The company has more chances to succeed this time because the Indian government is also aiming to get more EVs on the roads. The local government is hoping 30% of the vehicles that will run in the country will be electric versions by 2030.
At any rate, now that they know what went wrong when they released KONA in 2019, Tarun Garg, Hyundai Motor India's director of sales and marketing, said they now know what is needed to succeed this time. Hyundai will make affordable EVs, install more charging stations, and make home chargers available.
"I think India might be having the same situation in the near future," Hyundai Motor India managing director, Kim Seon Seob, told Economic Times India. "Our six battery EVs will cover various segments. Our future electric vehicle business should outperform existing performance in the general (internal combustion engine) market and one focus area in the future EV product line-up is the mass-market EV. Mass market means the customer wants some affordable vehicle - long-range and fast charging."
