The e-car will be based on the sport utility vehicle (SUV) Elevate, he added.
The e-car market is set to become increasingly competitive in 2025, with several carmakers, including Mahindra & Mahindra, Maruti Suzuki, Hyundai, and Kia, planning to launch their mass-market e-cars. Tsumura said that the company has not yet decided on any new model launches for 2025-26. On Wednesday, the CEO launched the third generation of the Amaze sedan at a starting price of ₹7.99 lakh (ex-showroom).
"Two-thirds of our total car sales globally will be electric by 2030. By 2040, all our cars will be electric. That is the global direction, and we are trying to align with it," Tsumura said.
"A total of three new nameplates (models) will be coming in FY27. One of those will be an Elevate-based electric vehicle (EV) with a new nameplate. It is going to be a new nameplate because it's not just a matter of putting a battery in the Elevate. The right way to think about it would be in terms of an Elevate-sized EV," he added.
He declined to provide details about the other two models to be launched in India in FY27.
HCIL currently sells only three models in India - Elevate, Amaze, and the City sedan.
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