Both firms are also developing an MPV and a midsize SUV to take on the products of their South Korean rivals.
The EV maker is planning to launch its most affordable sedan by June next year in India.
The car will come with a revolutionary battery tech that will provide more range to the EV.
However, the good news it that lithium ion battery cells cost more than 2 times less today than they did just a few years ago.
By 2025, Hyundai Motor Group wants to introduce 23 EVs and sell 1 million electric cars worldwide.
Although the EV passenger car segment is very small now, it will gain traction when more mass-market products are launched.
Bold, new, innovative and powerful, the EV will hit markets overseas by the end of next year.