Hyundai's Fleet Ambitions To Challenge India's EV Leaders

Hyundai Motor India has signalled its intention to enter the electric vehicle fleet segment, citing the lower total cost of ownership that EVs offer for commercial operations. Addressing the media at a conference, Tarun Garg, MD and CEO, Hyundai India said that the Korean carmaker feels that expansion of electric vehicles in fleet operations is ‘crucial’ to its growth in the country as India's commercial mobility landscape shifts toward electrification. 

The move comes as Hyundai recorded 6,726 EV sales in 2025, growing 636 per cent from the previous year, following the January 2025 launch of the Creta Electric. The Creta Electric, priced between Rs 17.99 lakh and Rs 23.50 lakh, offers a range of 390 to 473 kilometres, positioning it as a practical option for fleet buyers considering operational expenses over the vehicle's lifetime. 

India's EV passenger vehicle market reached 176,817 units in 2025, growing 77 per cent year-on-year, with the fleet segment showing early momentum. In the light commercial vehicle category, electric models accounted for 7,556 units between April and November 2025, marking early progress in electrification of logistics applications. 

Hyundai's fleet entry faces work on multiple fronts. The company must build awareness of its EV capabilities beyond the Creta Electric, which launched just over a year ago. With 6,726 units sold in 2025, Hyundai's EV sales remain below both Mahindra and BYD in the overall passenger market. The company's market share of 4 per cent contrasts with Tata's 40 per cent and MG's 29 per cent.  

The Creta Electric can serve as an entry point for fleet buyers. Its 390 to 473 kilometre range covers daily operations for many fleet use cases, while the competitive pricing makes the vehicle accessible to fleet operators comparing lifetime costs. The vehicle's dual 10.25-inch screens and in-car payment capability for charging at over 1,150 charging points across India add operational convenience. 

Hyundai has committed to introducing a dedicated India-specific electric vehicle by 2027, with a total of five EVs planned by 2030. This pipeline suggests the company is preparing a broader assault on fleet operations, with models designed specifically for commercial needs. The dedicated EV can address fleet operator concerns about vehicle durability, spare parts availability, and service support—challenges that have limited EV adoption in commercial operations.  

Hyundai's infrastructure push will test its commitment to the fleet market. The company has announced plans to set up nearly 600 public EV fast charging stations across the country, with facilities to date supporting approximately 50,000 charging sessions. Expanding this network will be critical to alleviating fleet operator concerns about charging availability during long-haul operations. 

The Korean carmaker enters a market where competition has intensified significantly. Chinese brands, including BYD and MG, captured 33 per cent of India's EV market by October 2025. MG's market share has grown to 35 per cent as of February 2026, while Tata's share has fallen to 39 per cent in the same period. 

For Hyundai to establish leadership in the fleet segment, the company must differentiate beyond price and range. Building relationships with fleet operators through customised financing, warranty offerings, and service guarantees will prove essential. The Creta Electric and future dedicated model will form the foundation, but success will hinge on demonstrating reliability over time and offering total cost of ownership advantages that fleet operators can verify through independent analysis. With the overall EV market growing 77 per cent annually and fleet penetration still below 3 per cent, the space available for market entry remains considerable.