SEOUL \u2013 Hyundai has launched its IPO in India, the largest in the country\u2019s history.<\/p>\n\n
Hyeran Hong, climate and energy campaigner, Greenpeace East Asia said:<\/strong> Hyundai must set clear combustion engine vehicle phase out targets in all markets to ensure that its growth does not come at the cost of the climate. Hyundai\u2019s climate strategy in India has implications for other regions as well, as the automaker looks to transform the country into a global export hub. [4] We hope to see Hyundai emerge as a zero-carbon mobility service provider, which would represent a major step forward for the EV transition.\u201d<\/em><\/p>\n\n Sharat M S, climate energy campaigner, Greenpeace India, said:<\/strong><\/p>\n\n \u201cIndia\u2019s vision for mobility centers on creating a sustainable, inclusive, and efficient transportation ecosystem that not only drives electrification but also strengthens public transport infrastructure. As one of the largest auto manufacturers, Hyundai has a responsibility to align with this vision by accelerating its efforts in the EV transition based on renewable energy. <\/em> <\/p>\n","protected":false},"excerpt":{"rendered":" SEOUL, 21 October, 2024 \u2013 Hyundai has launched its IPO in India, the largest in the country\u2019s history.<\/p>\n","protected":false},"author":32,"featured_media":8568,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"p4_og_title":"","p4_og_description":"","p4_og_image":"","p4_og_image_id":"","p4_seo_canonical_url":"","p4_campaign_name":"","p4_local_project":"","p4_basket_name":"","p4_department":"","footnotes":""},"categories":[2],"tags":[100],"p4-page-type":[14],"class_list":["post-8654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-climate-energy","tag-renewable-energy","p4-page-type-press"],"_links":{"self":[{"href":"https:\/\/www.greenpeace.org\/eastasia\/wp-json\/wp\/v2\/posts\/8654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.greenpeace.org\/eastasia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.greenpeace.org\/eastasia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.greenpeace.org\/eastasia\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/www.greenpeace.org\/eastasia\/wp-json\/wp\/v2\/comments?post=8654"}],"version-history":[{"count":2,"href":"https:\/\/www.greenpeace.org\/eastasia\/wp-json\/wp\/v2\/posts\/8654\/revisions"}],"predecessor-version":[{"id":8656,"href":"https:\/\/www.greenpeace.org\/eastasia\/wp-json\/wp\/v2\/posts\/8654\/revisions\/8656"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.greenpeace.org\/eastasia\/wp-json\/wp\/v2\/media\/8568"}],"wp:attachment":[{"href":"https:\/\/www.greenpeace.org\/eastasia\/wp-json\/wp\/v2\/media?parent=8654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.greenpeace.org\/eastasia\/wp-json\/wp\/v2\/categories?post=8654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.greenpeace.org\/eastasia\/wp-json\/wp\/v2\/tags?post=8654"},{"taxonomy":"p4-page-type","embeddable":true,"href":"https:\/\/www.greenpeace.org\/eastasia\/wp-json\/wp\/v2\/p4-page-type?post=8654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\u201cHyundai\u2019s IPO launch in India signals the country\u2019s importance to the automaker \u2014 but Hyundai\u2019s carbon neutrality efforts in India remain far behind. <\/em>
<\/em>
<\/em>Hyundai is the second-largest automaker in India and comprises 14 percent of the country\u2019s auto market. [1] However, Hyundai\u2019s decarbonization efforts in India have ranged from lackluster to nearly nonexistent. Electric vehicles accounted for approximately one out of 500 Hyundai vehicles sold in India in 2023 and one in 1000 during the first half of 2024. [2] While Hyundai has made progress on electrification in North America and Europe, in India the automaker\u2019s progress has stalled. <\/em>
<\/em>
<\/em>Hyundai\u2019s 2045 carbon neutrality roadmap lacks clear electrification targets for India and other \u2018emerging markets,\u2019 calling into question the automaker\u2019s commitment to climate action. The roadmap, published in 2021, says that Hyundai will \u2018accelerate electrification in emerging markets\u2019 by 2045. [3] However, it does not include a timeline for when 100 percent zero-emission vehicle sales will be achieved in these markets. <\/em>
<\/em><\/p>\n\n
<\/em>
<\/em>Hyundai must work towards fostering mobility solutions that reduce emissions, improve accessibility, contribute to India\u2019s broader climate goals, and also tackle air pollution. By doing so, it can play a pivotal role in transforming India\u2019s transportation landscape for a cleaner and greener future.\u201d<\/em><\/p>\n\n
<\/strong>Notes<\/strong>
[1] https:\/\/www.koreatimes.co.kr\/www\/tech\/2024\/10\/129_378142.html
<\/a>[2] Source: Greenpeace compilation based on data from Marklines
[3]https:\/\/www.hyundai.com\/content\/dam\/hyundai\/kr\/ko\/data\/company-report\/2024\/07\/10\/hmc-sr-en-2024.pdf<\/a>, 32 p
[4] https:\/\/www.koreatimes.co.kr\/www\/tech\/2024\/09\/129_373438.html
<\/a>Media Contact<\/strong><\/p>\n\n
Erin Newport, International Communications Officer, Greenpeace East Asia, +886 958 026 791, erin.newport@greenpeace.org<\/p>\n\n