Noida, February 7: South Korean automaker Hyundai today launched a new version of its premium compact hatchback Elite i20 priced between Rs 5.34 lakh and Rs 9.15 lakh (ex-showroom Delhi). The company, which operates here through its wholly-owned arm Hyundai Motor India Ltd (HMIL), also unveiled its global electric vehicle Ioniq.

"The new 2018 Elite i20 is a product of our continuous R&D efforts ... the product is aesthetically designed with premium interiors and modern looks that make it truly appealing," HMIL MD and CEO YK Koo told reporters here.

The petrol versions of the car are priced between Rs 5.34 lakh and Rs 7.9 lakh while the diesel trims are tagged between Rs 6.73 lakh and Rs 9.15 lakh. The car comes with various safety features like dual airbags as a standard feature.

The petrol version is powered by the 1.2-litre engine while the diesel trims come with 1.4-litre powertrains. The company also plans to launch an automatic (CVT) version of the petrol model later during the year. Koo said that HMIL contributed 15 percent to the overall global sales of the South Korean firm last year. In 2016, the sales contribution from India was 13.6 percent to overall global sales.

The company has already announced its plans to invest over USD 1 billion (around Rs 6,300 crore) in India in the next three years on new products, development of powertrain and setting up of a new office building. The company plans to launch an electric vehicle next year and is also gearing up for the possible comeback of its popular model Santro around Diwali this year. HMIL has lined up nine products to be introduced between 2018 and 2020. The company, which is completing 20 years in the Indian market, sold 6.78 lakh units last year in the country with a market share of around 16.5 percent in the passenger vehicle segment.