Hyundai Set to Launch New Ioniq P Compact Electric SUV in India by January 2027

Hyundai Motor Company plans to introduce a new made-for-India compact electric SUV, which is expected to carry the Ioniq P name and follow the Bayon model. Company management shared these product plans on October 29 during the third-quarter 2026 earnings conference call with analysts. While the official name is not yet announced by Hyundai Motor India, the new vehicle is lined up to debut in January 2027, which is a bit later than the previous end-of-2026 timeline.

Market Goals And Build

This upcoming EV aims to help Hyundai match the industry average for electric vehicle sales. Passenger EV sales in India have grown by nearly 90 percent in FY27. Tarun Garg, managing director of Hyundai Motor India, stated that the brand wants its EV share to reach closer to the industry average in FY28 through this mass-market vehicle. The SUV will be built at Hyundai's Sriperumbudur factory in Tamil Nadu and will compete with models like the Tata Nexon EV, Mahindra XUV 3XO EV, and Kia Syros EV. No specific sales target has been shared yet.

Features And Platform

The vehicle is expected to use the E-GMP (K) platform, similar to the global Inster EV, and will likely come in standard range and long range options. For reference, the Inster EV offers 42kWh and 49kWh battery versions with up to 355km of range under WLTP testing, though exact specs for the Ioniq P remain hidden. It will feature a next-generation infotainment system—potentially the Pleos Connect system—along with Level 2 assisted driving technology. Battery cells will be imported at first, as partner Exide Industries stated that local supplies for the Hyundai-Kia program will not start this year, though local sourcing will happen later to help cut costs.

Context

Automakers in India are racing to launch affordable electric SUVs to tap into the fast-growing local demand. Using local battery cells and domestic manufacturing plants helps car companies keep prices competitive against rivals.