EP 64 | Under the Hood: Hyundai’s Clean Mobility Journey with Puneet ANAND

This is the Energising India Podcast. Welcome to the Energising India Podcast. On this programme, we engage with the key protagonist shaping the future of energy, mobility and sustainability both in India and globally. I'm your host, Ravine Merchandani and today we are in the driver's seat with one of India's most exciting automotive journeys. The transformation of mobility as we knew it in this country. Joining us as a man who quite literally has his fingerprints across the evolution of the Indian automobile industry, Puneet Anand is the vertical head of corporate affairs, corporate communications and social responsibilities as ADP with Hyundai Motors India and has an enviable three decades of experience in the Indian automotive sector. Since 1998, Puneet has been an integral part of Hyundai's leadership in India, steering pivotal functions in driving growth in a dynamic and often unpredictable automotive sector environment. Today, we look under the hood of Hyundai's clean energy transition from investments in EVs and hydrogen technology and renewable energy to localisation strategies that boost the resilience of India's economy. We explore the role of public policy, infrastructure and community engagement that Hyundai does in redefining mobility for the next generation. What does the road ahead look like for India's clean mobility revolution? How does a giant like Hyundai balance cutting edge innovation with deep local relevance? Puneet Anand, welcome to the programme. Thank you. Thank you. It's been pleasure and I think looking forward to a great conversation. Excellent. Puneet, you've been with Hyundai for 30 years. Hyundai launched in the late 90s when India was a three-legged race. You had Maruti Suzuki, you had the premier and the ambassador and Hyundai came and shook all of this up. It must have taken a lot of courage to move into a brand new Korean company right time. Tell us about that journey when you joined Hyundai. I remember way back in 1998 when the auto industry had just started and yes, you rightly mentioned that we had the Japanese and we had the two Indian players. But I think Hyundai had its vision very right in India, the very fact that we came from South India, Tamil Nadu where we set up our plant in 1998 and you know started our production in terms of the first MPFI engine, the central, the Talboi design which I think everyone is talking about really changed the way people started looking at cars. And I think that defined the leadership for Hyundai going forward, followed by so many futuristic models like the accent and then the centre of A and then the Tucson and also Elantra. I think each and every product which Hyundai has brought has really changed the dynamics of the segment. It's all because of the love of these people, the love of the country and I think the aspect of Hyundai being a leader in technology in whichever area of the segment which has come, we have always been first in most of the segments which we have really been prevailing. I think that's where I feel very proud that I have been part of that early team in 1990 yet when we just started and the sector centre was not even launched when I joined this organization and it's been a great, loving journey so far. Pranith, we've all watched Hyundai with excitement, you know, globally Hyundai came from the 70s to the 80s and then there was a big leap in the 90s and then we saw that leap again in technology and classic designs, a new design language that came you know in the middle of the last decade. What amazing leaps Hyundai has made to actually compete globally even with the German and the Japanese, you know, automotive majors. It's quite commendable the journey that you've had. I'm interested in the EV space to start with before we go to hydrogen. The legacy companies, you know, and I put how you know in them among the big Japanese and the German companies were late to the EV scene and you know that's typically because you obviously want to get everything right. You want to make sure that the quality is right, the reliability is right, the customer experience is right. You are coming into the EV scene now and in India it is dominated by three other companies, you know, I'd say it's probably Tata, Mahindra and of course MG. How do you see the space evolving in the automotive market and where is Hyundai hoping it will go? Actually, Hyundai was the first company to come up with the first mass produced EV, which was the Kona V back in 2019. So we actually knew the industry, we were the pioneers in this technology and globally speaking, Hyundai has leadership in almost all the power trades going forward. We feel that we have the technology for each and every second. Now in 2019, we launched the Kona. It was followed by the Ionic 5 in 2023 and recently, you know, we launched the first mass produced, the Hyundai Crata, which has already won so many leaderships and so many laurels that today in its electric authorities also do wonderfully well over here. But I must also tell you that Hyundai is also an organization which defines the segment, which defines the area which we operate upon and I think in terms of EV technology, it's the ecosystem which is very important. 2019 launching Kona was the understanding of the situation, how the market is, how the people are responding, should it be a top-down approach, should it be a bottoms-up approach. And I think the kind of research which you have understood, the kind of knowledge which you have gained from our first customers for the first adopters has really helped us to refine our strategy, refine our products and then followed by the Ionic 5, which was the world car of the year and now the Crata, which is actually the car of the year for as far as India's concern. We are very confident that this journey is now entering into a very exciting phase. The next five years are going to definitely define the way India's sustainable mobility journey will be looking into. Yes, you are right, if the other auto AMs are really doing a commendable job, they're all doing good. We are seeing the launch of many products in many segments and also not only the OEMs but equally many stakeholders who are very important for the EV industry are also strongly collaborating with each other. And I think this is the time when we all need to look at what product, what features, what segments and how technology has to be brought. And I think this is the moment which all of us would have been looking for. In fact, but either actually, absolutely right, it was a remiss of me. You were one of the first three cars in India. We had a Hyundai corner that we purchased in 2020 and it was an absolute dream to drive. We still have it in our campus here. So you're right, you were one of the early movers in India. I'm interested in the argument that you proposed, which is we are at the inflection point. And you're right, I agree with you there. With over 15 models in electric vehicles being available in India today, the ability to drive from Kashmir to Kanyakumari without having an issue in charging. The fact that bus fleets are moving, you're absolutely right, we are that inflection. I'm interested in two questions. First is, what does the end of this inflection look like to you by 2030 for Hyundai? And what will actually drive it from here to 2030? So at the first of all, you know, let me take you back around two, three years, you know, when government of India started looking at you, we had a very serious day. Coming forward in 2022, very strong scheme, which is called the PLI scheme for the auto components and auto mobile manufacturing was given with a layout of almost 25,000 crores for the ministry of heavy industries. This was followed by another noble scheme, which is the ACC battery or advanced cell chemistry battery with an overlay of 18,000 crore from the government. Off-late, phase one, phase two also did wonderfully well, but their effect was limited only to the commercial vehicle. And now we have seen the PME drive scheme for which is the phase three, which has come which will further augment the charging infrastructure. So, if you look at it, the government's focus is on quadripling the pace with which the EV adoption in India will increase. Now the OEMs on the other hand are strengthening their product portfolios, they are launching new products, they are launching products in different segments, which will further augment the ownership experience. And the third important thing is the various stakeholders now which comes the charge point operators, they are also strengthening their systems in terms of setting up the charging infrastructure. Many OEMs, including Hyundai, have already announced that not only the manufacturing of cars, but they will also augment the charging infrastructure. In fact, we are the first OEM to have formally announced that in the coming time, we will be setting up 600 fast charges, high capacity charges across the country. Now, this itself is a very big proposition and a very big commitment to the overall modernization and the ecosystem as far as the EVs are concerned. So, I think when we look at the drivers for the adoption, all these key drivers are very much in place to create a very nice atmosphere as far as the next 5 years of the industries are concerned. Even if you look at 2025, from the retail point, from H1, that is January to June, we have already seen a 17% growth in the overall EVs. It has already gone to 1 million retail sales, not to mention even for the passenger vehicle which we represent, we have seen around 53% jump in registration year on year in the retail sector. So, that means the customers have started to understand the advances, the affordability part, the availability part at the quality part and therefore all the deterrents which were there earlier in the adoption of the EVs are slowly being taken care of and therefore, next 5 years will definitely be very exciting. especially the journey towards sustainable future mobility solutions is concerned. No, these could be not only limited to EV, but government is also looking at flex fields. And, you know, Hyundai displayed the first flex field crater during this Bharat mobility show, which can be E0 to E85. That is the kind of the flex field technology which we already have. So, we want to give the consumers whatever they want. If they are happy with ice, we'll give them ice. They're happy with flex fields, we'll give them flex fields. If they're happy with EV, we'll give them EV. And if they want hydrogen, as I said, we can give them hydrogen. So, we are a full range of OEM supplier and government of India also is supporting in creating this very strong, momentous ecosystem in this country. It's an interesting comment you make about investing in 600 fast charges across India. We've seen that you have a network with Chadzone, one of India's largest CPUs. And obviously, you're creating the network to give people the confidence to buy EV. And that has made a very big difference. We saw the same happening in Europe with a lot of the automotive majors coming together to create Ionity, which ended up being the biggest charge point operator in Europe. And so it's interesting to see something similar evolve in India. In the early days of EVs, the adoption, you know, was tenuous in one site because the cost was high, the charging network wasn't there. Finance was difficult to get. And then people were worried about the residual value of the vehicle as well. I think the first three have been addressed quite well. You know, you're able to charge, the cost has been very well addressed. The residual value of the vehicle is still something that a lot of times comes up in the consumer's mind. How are you addressing that beneath? And what are the ideas and thoughts, you know, conversations that are happening and how you know about that? Well, I think if you look at our strategy, the first very fact is that we are giving consumers a strong confidence of investing into an EV. Whether it is in terms of warranties, whether it is in terms of the battery commitment, customers can really take a very good life as far as the EVs concern. You know, when we launched our EV, the first car, Kona, we had given eight-year warranty. Now, eight-year warranty for a battery itself is strong commitment and confidence to the customer that yes, hey, this product is there where I can use it for eight years of my, you know, life, which without any problem, without any issues. And I think over the period of time, other OEMs have also started understanding this. The kind of warranties, the kind of benefits, the kind of, after sales policy, the charging, the V2V charging, which is the vehicle to vehicle charging, is already being given to all the customers as far as our, you know, brand is concerned. But as we see the double-digit growth happening, as I mentioned, 53% year-on-year jump as far as the detail for H1 is concerned, with show a great potential, once that critical mask gets developed, I'm sure the value, as far as the used car or the buy-back options also will be there. And also the government also cupping up with many policies like the ELV policy, which is the end of the life weaker. We're talking of EPR. We're talking of extended producer responsibility. So there's a lot of sustainable policies, which the government is also bringing. We recently saw one of the major entrants coming into India, the inauguration of the Tesla's first showroom in Mumbai. I think that will also set the benchmark as far as the various other policies are concerned. So all these things will, you know, ensure that all OEMs take care of all these things. And we are able to set up a very meaningful delivery model for the customers. And that will give them more confidence, that will give them more reason to go and buy a sustainable weaker. And today the consumers of India who are the youngest in the world also strongly feel their adherence to the ecosystem. They feel responsible that the future of their children lies in the environment. And if they are able to adapt to the environment-friendly technologies and adopt more and more EVs, that will also be a promise which our country, which has already taken a target of net zero by 2070. I think that's what every citizen of this country is looking at. So, Pneed, before we come to hydrogen, you talked about the battery gigafactories that are coming live in India. So today I'm assuming you import yourselves. When the next two or three gigafactories that are supposed to come on stream in 2026 do, are you anticipating localizing cell acquisition from India for your own packs? Absolutely. I think I must tell you that last year also we had announced that we have invested huge sums of money into a very credible manufacture. The factory is already under process and very soon the factory will be churning out batteries, which will be making India batteries. Now these batteries will be doing service on various products which Hyundai will be launching now and subsequently to this year. So I think not only us, other OEMs also are investing into this technology. Many battery operators, battery manufacturers have understood that the future also will be lying in the developing and manufacturing of these electric vehicle batteries. So I think 2026-27 because that's when the PLI's effect will start taking shape, the ACCT ally I mean and we will see the coming up of these batteries from the plants in India and that you imagine how much confident it would be and how much cost reduction it will be for the localization perspective. Already OEMs have started to channelize their vendor ecosystem. At Hyundai we have been very strongly working towards our vendors and telling them how the industry will change in a couple of times. So already for great also, in fact we have already localized more than 1200 components which includes sensors, which includes the sunroof, which includes alloy wheels. So many other major components which are part of the electrical ecosystem are being localized and with the time to come as the adoption increases as the cost of battery goes down. More and more products will come into the picture and we will see a better cost to value proposition going for the customers. So it's a win-win situation and all big things take some time. But as I said, the time has started now and next five years should be very exciting for the new journey for a sustainable India. So let's talk about hydrogen then beneath. Four years ago there was an argument what's going to win. Is it the electric vehicle of the hydrogen and you know the conversations are about well if it's if it's long and heavy, it should be hydrogen, long hole trucking, perhaps you know trains, aviation. And if it's interesting you can short anything under 250 kilometers should be electric. And at that point, you know there was even a conversation between automotive majors some were betting on hydrogen, some were betting on electric completely and then there were some others like yourselves who were who were both, you know. Hyundai in fact believes in hydrogen because you have an amazing fuel cell which is used at many applications beyond just mobility. It's even used in stationary energy. I've seen Hyundai fuel cells being used in in part north of Sweden to convert hydrogen into electricity in the middle of winter. So you know clearly clearly you bet on both both these subjects or both of these technologies very early. Today that conversation is not happening. The you know the price of batteries fell such so significantly over the last three years that even long distance buses and you know mid-distance trucking is already moving to electric. And as charging technology improves the time to charge reduces the sea rate to charge batteries improves thermal management of batteries improves then you know that whole concept of hydrogen the argument starts to recede. What are the conversations happening within the Hyundai boardrooms about electric versus hydrogen and when you're allocating your research and development spending for the next 10 years of products you know where is it going is it electrical or hydrogen where do you see this market evolving? I think a very very interesting question but I must you know give you a very balanced answer balanced in the sense that as I said that Hyundai is a full-scale management. We have confidence that all technologies will remain useful and mutually sustainable. What I mean by that is that yes EV is definitely doing but we must not lose sight on the future. Today Hyundai has been doing a lot of collaborations in various parts of the world towards hydrogen mobility also. Korea is in a big example where we have already set up hydrogen fueling stations. I think commercially we would have sold more than 30,000 nexus which is the first commercially produced mass hydrogen vehicle across the world and they are all doing you know phenomenal job commendable job over there. I remember this year in the just a couple of months back we have given one nexus car to Indian oil corporation. Indian oil you know is the biggest refiner and they were very strong focus on hydrogen technology because of the known refinery business. So we have entered into a technical MOU where they will be studying this nexus in terms of its utility, drivability and how the quality of hydrogen in India can be adapted to make it more and more convenient and more and more usable. In fact recently post giving this nexus to IIT we recently or to Indian oil we also entered into an MOU with IIT Chennai Madras wherein we are setting up a hydrogen innovation hub. This hydrogen innovation valley hub will actually be churning the research on the future of hydrogen growth in India. We are spending more than 100 crore rupees towards this hydrogen valley wherein the IIT also will be putting money in Tamil Nadu government. The department will also be putting money so that it can be a very strong seamless you know contribution between the think tanks which is the IIT the government which is the government Tamil Nadu and the OEMs which is on day. So why are we all doing this? Because we have a strong confidence that hydrogen also will be very powerful. promising fuel. We have been actually entered into alliance in some of the western countries where we have given commercial trucks and buses to some of the fleet operators. And they are running it very successfully with all their businesses. You write about the distance, you know, west coast to east coast when we talk about the US is more than 700 800 miles. So hydrogen will actually be very meaningful. Why only that? Even the marine proportion, I think hydrogen will be a very, very meaningful solution and it also will be very environment friendly. So in terms of our technology, whereas we are investing into electrical, we are also focusing on hydrogen going forward as the future. Our sole aim is to ensure that India becomes a noticeable power hub. In terms of any power, whether it is the, you know, ice power train, whether it is the electric power train, whether it is the hydrogen power train, whether it is the CNP power train, all fuel types will be, you know, working together seamlessly, cohesively and the overall grid will be the one which will be talking to each other. So I think that's where we feel that we should not let any technology, you know, go unnoticed. Every technology has some value, every technology has benefits and every technology should have that kind of investment which will make it more viable and more meaningful. Let's talk about your journey in the last three years to localize electric vehicle in three years or four years or it is very hard to get suppliers from your traditionalized, you know, value chain to be giving you EV components. How has that journey been in the last three years and, you know, how much localization have you been able to achieve in your present electric vehicles in India? How you know it's been in India 30 years, you had an IPO recently, you're very committed to the country, you make a lot of statements about localization, you know, supporting the Indian economy. So I'm interested where you started four years ago and today what is the content of EV localization and what have been the challenges? When we started in India, most of our products, you know, the like the MPFI, the technology, the ECM, which is called the engine control module, were largely imported. But we have invested huge money in our vendor source. Now, we know the importance of our vendor ecosystem, huge number of people involved over there. We have a commitment to make in India made for the world. We have been the consistent largest exporter of cars from India and we continue to do so around 22% of our production has already been committed to exports and we are going to further increase because the love for made in India made by Hyundai products is actually increasing all over the globe. And Camila is currently the biggest base where we are exporting our cars from. And in terms of the specifically EV components as I mentioned, we already have had around two, three years of the start with our vendors wherein we have started working towards, you know, localizing some of the key components in the electrical part also. Whether it is in terms of sensors, whether it is in terms of the battery packs, as I said, that battery packs will be the first one to localize. So now, maybe when the cells are coming from outside, the assembly of the cells is happening in India. Very soon this battery will also be localized as our partner will be starting producing in India. And the other components which are like, you know, the motors, the starters, the power devices also we are focusing lot on getting them localized and manufactured over here. Yes, there are some challenges you know that recently, government of India and other OEMs have felt some issues related to rare earth metals. We as an OEM have our exposure to the across various part of the world. Touchwood, we are kind of, I would say safeguard it from that challenge, but I must say that we understand such challenges will keep on coming in the future also. So, the dependence on a single value chain will always be very detrimental. So, we are devising global strategies, we are devising global value chains, we are devising global logistics and our vendors also understand the importance of this. And therefore, as an OEM and as a partner of all the progress of our vendors more than 192 tier 1 vendors who are with us, we are working very seamlessly with them to see that their existence, their future commitment to the production of seamless products remains in this country. And therefore, our localization whether it is in terms of steel, whether it is in terms of powertrain, whether it is in terms of components, whether it is in terms of cameras, whether it is in terms of sunroofs, you know, we have more than 50 percent penetration sunroof, sunroofs you already localized in India, alloy wheels, which is now almost every car has a alloy wheel 100 percent localized in India. So, we are working very strongly with that, but not compromising on the quality, because we are a global manufacturer, our cars are not only being sold in India, they are being exported to many countries also. So, whereas our entire production ecosystem is keeping a close watch on the localization, we are also very much responsible for the quality what we produce in India and also across the world. And therefore, in a very meticulous manner, in a very cohesive manner, we are working and we are very confident that the kind of policies the government of India is bringing, I think that they will not be far when India will become actually the biggest exporter of cars from this country. Already India is a master as far as the passenger vehicles are concerned and obviously 90 more than 95 percent OEMs are already present in India. And they know the potential, the penetration of car in India currently is around 30 to 30 thousand compared to other countries. So, the potential is huge, the infrastructure is developing, highways are developing and is the desire of the people to adopt more and more technologies. And therefore, we are confident that the coming time will be very exciting, very promising and therefore, with everything in place, we will be working together to ensure that we become one nation, one country, full of production opportunities and full of the vehicle mobility as far as sustainability is concerned. You talked about export beneath. So, I am assuming I may be wrong, you can correct me. It's the right hand drive countries that you export the I-20 and the equivalent cars to like Australia, Singapore, Malaysia, or is it even left hand drive? No, no, we are in fact doing left hand drive cars also, excellent. Many of over cars like the Middle East countries, they are all left hand drives. So, we are exporting to their right hand drive is India is very popular, but most of the world, you know, the left hand drive also is becoming very popular. So, we have possibility of all types of products, whether it is right hand drive, left hand drive, the kind of power train, the kind of safety features. So, that way it's a very seamless operation. So, we can do that. We have a flexible manufacturing system, our lines can adapt to the requirement of the customers. I want to focus on batteries, right? You're going to get your cell made in India, and then you're going to pack it in your factory, in your form factor, and use that in your car. Yet, you know, what we're seeing coming out of the world today, and you know, is battery technology evolving so fast that costs are dropping significantly, particularly because other countries might have scale that is not available in India. Are you worried, or is this a conversation that's happening in the automotive industry in India, that you will localize, you buy cells in India, but cells from overseas might, in fact, be half the price in three years, and you're locked into a higher cost structure as a result? Well, I think you are absolutely right, but, you know, market is defined not only by the OEMs, market also gets defined by the government. And today, we are very confident that the government in the past has also done, and even now also, they will do everything to ensure that India remains a competitive manufacturing place. I don't want to, you know, take any names, but I work and only say that the way we work with the government, and since I also handle government relations, I am very confident that government of India's vision, which is called Viksiddh Bharat for 2047, has already started taking shape. And in that, manufacturing is one of the key contributors for that. So, if the government has the eyes set, and they are taking every stakeholder along with it, I am sure the manufacturing, whether it is a TR1 manufacturing, TR2 manufacturing, or at the OEM level manufacturing, everyone will be benefited by the government policies. The fact that India has launched so many schemes in the last couple of years, whether it the PLI scheme, or the PME, a drive scheme, or the ACC scheme, or also the rare earth metal scheme, now we are talking about semiconductor scheme, all these schemes are what? They are there to strengthen the OEMs more and more, so that we can become a complete ecosystem, a complete value chain in ourselves. And India rather than depending upon the imports from other country, should be able to export to the outside country. And the way government is supporting the industry as a overall system, I am sure our manufacturer will continue to increase, and we will be looking at a future where India will not only be strong in terms of entry level cars, but also in terms of mass vehicles, and also luxury vehicles going forward. Today, government of India's, the new SMEB policy, which is the smart policy for manufacturing electric cars, basically talks about luxury potential coming in India. And if that happens, you can imagine where we are heading to. So, therefore, governments is very confident, government is very committed, and I am sure government will ensure that a meaningful ecosystem develops so that OEMs take pride in manufacturing in India and exporting from it. Talking about luxury vehicles, are you excited by the new policy that has CBU imports at much reduced duty rates? I think anything which propagates competition is always welcome bias, because it will make us more stronger. We We are looking at this policy very carefully, we have seen renewed interests last couple of years we have been participating in almost all the meetings which the government has done and now the time of delivery has come so we are also looking at how things are panning out and but we are confident we are committed and we are sure whatever will happen whatever way the policy will move we will always be committed to making India. And I think that's what we are looking at and that's where we feel that more and more competition will give us that kind of a strength to ensure competition will bring the best in us and customers will get the best value for them. And beneath beyond mobility in our research we have seen that you are also doing some investment in renewable energy plants is this part of your ESG initiative or is this part of another clean energy transition belief within the within whole high and I ecosystem? You know being a multinational company you know we are always committed to the global standards. So yes whereas India has taken a net utility tower of 2017, Hyundai Motor Group way back in 2021 announced that will be carbon neutral weight 2045, you know that means that even in India which is a sizable volume as far as the operations are concerned, our commitment remains the same and therefore in our two plants in Chennai currently we are already at 63% renewable energy usage and by the end of this year we should be 100% RE as far as our production operations are concerned. That means we will be using solar energy wind power currently around 10 megawatt of solar cell plant is already there in Tamil Nadu, so as I said by the end of 2025 we will have around 75 megawatt of solar power and 45 megawatt of wind power which will make us RE 100 by the December 2025, now that's the commitment which we have and not only in terms of production even in terms of our various ESG initiatives, I can tell you that we are investing into technologies which are also into waste management, carbon neutrality, forestation, water management including ponds at our Tamil Nadu plant, therefore the regries of the environment and the challenges posed by the future environment issues should not put any challenges to us and that's where we are investing a lot into these future EV and environmental technologies and we are confident by 2045, all operations will actually be carbon. Puneet Hayunday has been in India over 30 years and you have a commitment to India, most companies that have been here that long have a commitment to the country, I'm interested for our audience, what is Huneet Hayunday doing in India besides making cars and running the factories and clean energy, you tell you that our one vision which is the global vision is progress for humanity, yes our products will add a lot of value to the people, but we are looking at the humanity as a whole, the world as a big family, the world as a big picture in front of us and therefore we feel that through our vision progress of humanity we can add values to the life of the people, we have a global vision under which we have three pillars and in India we also follow the same three pillars, the first pillar is the pillar of earth, so because this is our mother earth, how we can give it back to this mother, that's one important area, the second pillar is the pillar of hope, India as a country also has lot of divide, there are people who have lots of wealth, there are people who probably need wealth to sustain their livelihood and therefore who is another important pillar of our journey and the third pillar is the pillar of mobility, which is basically our business also, but how mobility can be more responsible, just to share a light I think earth is one of the most important area, I talked about in the past about our endeavors in terms of renewable energy in terms of sustainability, net zero, but even at the ground we are doing lot of investments into making India again green, the second pillar of the hope, we are doing lot of education programs, skilling programs, we have a program called art for hope, wherein we are calling the artist from two backgrounds, we are giving them training, we are giving them money so that they can continue their profession and create wonderful piece of art, which they can sell in the market and again obtain livelihood. And under the project mobility we are doing things like telemedicine, so people in the rural areas who cannot afford to go to hospitals, we are taking hospitals to the village and we are working under this global theme of progress for humanity and with this confidence that India should be a very respectable country, so that people can look eye to eye and say that yes, this company is not only producing wonderful products, it is also producing wonderful human reasons. And that is what I feel proud of that we have been doing in the last inspect from COVID, we have further doubled our operations, because COVID taught us a lesson that how people in the rural areas, villagers were not able to get these facilities, and how we have created these mass medical centers close to 50 telemedicine centers are operating in India, around 10-12 mobile medical units are operating in India, and all these units we are doing so that we can bring wealth and health to the doorstep of the Indian consumers. Excellent. We say the same, we say people are the purpose, profit is the means, and so I think you have demonstrated that. One last question, what can we expect, what excitement can we expect in 2025-26 from Hyundai's new car launches, is the policy coming to India finally. You know with whom you can always be a short of potential, future, and I think commitment to India. We have always said, and I think in the last when we launched the IPO, we also said that we will be launching 26 products in this country in the coming future. No, that's a commitment, that's a statement, but this year you know we already launched the greater electric, we are in the process of launching new products also, our new plant in fact is taking shape and very soon this year, the third plant will start working towards India, now that will also be producing wonderful products going forward as for the Indian economy is concerned. So you can be very confident at rest assured that Hyundai will not only bring products which are meaningful to India, but they will also manufacture products which are meaningful for the world. Pani Thanan, the Hyundai Motors India, thank you for making time to be in our program. We look forward to celebrating Hyundai's many successes over the next few years and having you back on this program soon as well, thank you Pani Thanan, it's been a pleasure talking to you, and I wish you all the best and also all the best to the consumers who are watching your show. Thanks Pani, I'm your host for this episode, Ravind Mirchandani, but I would not be here without the amazing energizing India podcast team. Aditya, I had a production and the man who makes it all happen in the end, much like a big fat brand Indian wedding, bringing together the research data and attention to detail, all within the timelines to get the next episode out on time. Shirin, our podcast research head and Sammy, our podcast strategy consultant who beams in from New York with golden nuggets of advice. Swan and then Sunil, who along with me are the executive producers of this program. The energizing India podcast is an adorable production giving a voice to the EV, battery and hydrogen sectors in India. If you enjoyed listening to us today, make sure to follow us on whatever platform you're listening on, whether it's Spotify, Apple iTunes or our very own portal energizing India.tv. Thank you very much and see you on the next episode.