Hyundai has given the first public hint of the name of its upcoming made-in-India electric car. Management referred to a model called the Ioniq P on the company's third-quarter earnings call on October 29, 2026, and Autocar India and Electrek both link it to the dedicated mass-market EV that Hyundai Motor India plans to launch.
What is confirmed and what is not
The name is the weakest part of the story. Autocar India reports that Hyundai Motor India has not officially announced it, and that management did not explicitly tie the name to the project codenamed HE1i. Treat the Ioniq P label as likely, not final.
What Hyundai did confirm, according to Autocar India, is "next-generation infotainment" and "Level 2 assisted driving technology." Electrek quotes Hyundai Motor India chief executive Tarun Garg as saying the company is "fully geared up" for the dedicated mass-market EV launch in the fourth quarter of the financial year 2027, which ends in March 2027.
Timing and price expectations
Autocar India expects a debut in January 2027. That is the publication's estimate, not a Hyundai date. It also expects a price of about Rs 9.79 lakh, again an expectation and not an official figure. If the number holds, the car would sit among the cheapest electric cars on sale in India.
The car is expected to compete with the Tata Nexon EV, the Mahindra XUV 3XO EV and the Kia Syros EV, per Autocar India. Electrek says it sits below the Creta Electric, which fits an entry-level role.
Where it will be built
Autocar India says the car will be made at Hyundai's plant in Sriperumbudur, Tamil Nadu, and is expected to use the E-GMP (K) platform that underpins the Inster. Battery cells will be imported at first, because supply from Exide, the planned domestic partner, is delayed.
Cell supply is the practical risk for any India-built EV, because the cheapest cars depend on local battery sourcing to hold prices down. A launch with imported cells could limit how aggressive the price can be.
The market behind it
Autocar India says India's electric passenger vehicle sales are up almost 90 percent so far in the financial year 2027. Hyundai's own numbers show a divided picture. Electrek reports global third-quarter sales fell 10 percent to 931,211 vehicles, while India rose 9.5 percent to more than 150,000 units. Hyundai is investing $15.5 billion in India through 2032, according to the same report.
Electrek's reported breakdown of vehicle figures did not add up, so we have not repeated it.
Why an entry EV matters
Hyundai's Indian electric range so far has been priced at the premium end. A cheaper car would give it a share of the segment where Tata and Mahindra currently dominate, and where buyers are comparing running costs with petrol hatchbacks and compact SUVs. Price, charging access and battery warranty will decide that comparison, none of which Hyundai has detailed.
A launch next year would also test whether Hyundai can build a car designed for Indian costs without losing its reputation for features. The mention of driver assistance at Level 2 is notable at a price near Rs 10 lakh, though what is included at the base trim is not yet known.
What to watch next
Watch for an official name announcement from Hyundai Motor India, a confirmed launch date, battery size and range figures, and cell supply news involving Exide. Pricing will be the number that decides whether the car lives up to its entry-level billing.
Published October 31, 2026. Gadgets365 will update this article as more information becomes available.
