MUMBAI, July 9 (Xinhua) -- South Korean multinational automotive manufacturer's India subsidiary Hyundai Motors has launched India's first electric Sport Utility Vehicle (SUV), Kona, at an ex-showroom price of 36,871 U.S. dollars, a company release said on Tuesday.

Globally this vehicle comes with two electric battery versions -- 39.2 kWh and a 64 kWh, but in India it will be the smaller 39.2 kWh version, which the company claims will offer a range of 452 km in a single charge.

The Indian subsidiary of Hyundai is the second largest car manufacturer and the number one car exporter in the country.

Last week in the annual budget, Indian Finance Minister Nirmala Sitharaman announced income tax rebates of up to 2,186 U.S. dollars to customers on interest paid on loans to buy electric vehicles, with a total exemption benefit of 3,643 U.S. dollars over the entire loan period.

The minister also announced customs duty exemption on lithium-ion cells, which will help lower the cost of lithium-ion batteries in India as they are not produced locally.