Hyundai is launching a new mass-market electric SUV to be made in India, expected to go on sale as the IONIQ P.
Hyundai hints at IONIQ P as new entry-level EV for India
After disguised prototypes have been spotted testing in public several times now, we may know the name of Hyundai’s compact electric SUV.
During its third-quarter earnings call, Hyundai said it would introduce the IONIQ P in India following the new Bayon.
Although it didn’t explicitly confirm the name of the upcoming model, codenamed HE1i, it’s expected to go on sale as the IONIQ P as the latest addition to Hyundai’s dedicated IONIQ EV lineup.
Mr. Tarun Garg, Managing Director & Chief Executive Officer of Hyundai Motor India, declared on Wednesday that the “Launch of Bayon marks the onset of our golden product cycle. He added We are also fully geared up for the launch of [our] dedicated mass market EV in Q4 FY27.”
The vehicle was first spotted earlier this year driving near Hyundai’s Sriperumbudur plant in Chennai, India, the “Detroit of Asia,” as it’s known.
Hyundai has yet to confirm the name, but the vehicle carried an “HE1i” tag, suggesting it was an IONIQ model.
Previous electric test vehicles, like the IONIQ 5 and IONIQ 9, were tagged with “ME” and “NE,” with the “E” indicating they are based on the dedicated E-GMP platform.
The new entry-level EV will sit below the Creta Electric as a smaller, lower-priced electric SUV that will serve as a cornerstone of Hyundai’s growth plans in India.
During its CEO Investor Day in August, Hyundai Motor announced plans to launch 100 new or refreshed vehicles between now and 2030, including 58 in North America, 49 in South Korea, 41 in Europe, and 26 in India.
Alongside the recently launched IONIQ 3 and new Tucson, Hyundai previewed a new electric A-SUV for India, a global B-SUV, and another B-SUV for Europe.
Hyundai Motor is investing $15.5 billion to expand its presence in India by 2032, including expanding manufacturing capacity and building a local supply chain. The new entry-level EV will be Hyundai’s first produced locally in India. By 2030, Hyundai expects total production capacity to reach 1.1 million units in India.
Hyundai’s global sales fell 10% year over year in the third quarter to 931,211 units. India, meanwhile, was its fastest-growing market with sales up 9.5% in Q3 to over 150,000 units.
Will Hyundai bring the compact electric SUV to other global markets? The company said India will serve as an “important export hub,” but didn’t offer any further details.
A covered prototype was recently caught testing in South Korea by ShortsCar, initially thought to be the IONIQ 4 or possibly IONIQ 1.
Hyundai already exports vehicles made in India to global markets like the UK, Central and South America, and the Middle East, so it wouldn’t be a surprise.
In September, Hyundai’s domestic sales and exports from India rose 11% to 77,916, the highest monthly total yet.
Source: Autocar, Hyundai Motor
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