Hyundai and KIA are on the cusp of launching their new Ev’s,. KIA would start accepting bookings for the same form next week. Both the companies have been pretty regular in posting trailers as well as new teasers for the cars . KIA would bring the car next month while the Hyundai IONIQ 5 would follow up soon, KIA as of now would only bring about a 100 EV 6’s to the nation. Hyundai too had planned to take up the CBU (Completely Built up Unit) import route for the car but now the manufacturer seems to have taken a new direction recently and announce that the IONIQ 5 would be assembled in India Only.
Tax slabs for imported vehicles
This would surely cause a price difference in between the KIA EV 6 and the Hyundai IONIQ 5 due to tax differences in between CKD ( completely knocked down Units) and the CBU ( Completely Built Units). EV’s in our nation are subjected to the same custom duties as ICE cars , hence a import would attract about 60% duties, while cars that are semi knocked down or partially assembled are subjected to only 30% duties before taxes.
And cars that are imported as completely knocked down units CKD are subjected to 15 % taxes only, in CKD form major components of the car are imported in pre-assembled format and assembled in domestic markets itself.Hyundai has went for the CKD route to opt for the lowest Tax slab and keep the price of the the new IONIQ 5 in the Indian market low .However the rising global demand for the product means that the launch could be delayed till the end of the 2022 and deliveries till the start of the 2023.
Both the the EV6 and Ioniq 5 are large, electric crossovers upwards of 4.5m in length and built on Hyundai’s e-gmp platform and hence it’s natural to draw comparisons between the two. They each serve as the electric flagship model for their respective brand, and both offer state-of-the-art battery and charging tech to rival the best in the world.
Overseas, although there are some differences in their powertrain specification and the variants on offer – the two cars are priced more or less on par with one another. While previously media reports announced the prices of both the cars to be in the range of 60 lakhs but now the Hyundai taking the CKD route the prices of the IONIQ 5 would be reduced further. Internationally, the IONIQ 5 is available with a 58kWh battery with a single 169hp motor, or with a 72.6kWh battery pack with two motors that come in two states of tune – 217hp or 306hp. The carmaker recently introduced a larger 77.4kWh battery pack, which will go on sale later this year for global models.
For India according to reports Hyundai would launch the the base version which has 58 KWH hour battery and a single 169 hp , this would widen the price gap between the KIA EV 6 and the Hyundai IONIQ 5 even further.lets see how the (ckd) route taken by the brand would turn out in case of the IONIQ 5.