Hyundai plans to scale up production capacity, introduce more EVs in India
Hyundai Motor Group said on Thursday that the company has laid out a vision to bolster its operations in India to utilize the country as a key export hub for the South Korean automaker.
Earlier, Euisun Chung, Hyundai Motor Group’s executive chair, visited the group’s Indian headquarters in Gurugram, Haryana on Tuesday and discussed medium- to long-term strategies for the Indian market with employees.
Over the past year, Hyundai Motor Group has announced new investment plans in India totaling approximately 5 trillion won ($3.75 billion), reflecting the group’s intent to better target one of the fastest-growing major automotive markets in the world.
Euisun Chung also held a town hall with some 400 employees and shared his future visions. It marked the first time for Chung to hold a town hall with employees overseas, reports Yonhap news agency.
At the meeting, Chung shared his vision to nurture India as the group’s global export hub as Hyundai expands its business to Asia, the Middle East, and Africa.
He also highlighted customer trust, employees’ dedication, and technological expertise as key growth factors in India, while expressing pride in the group consistently achieving the second position in the Indian market share.
Regarding Hyundai’s electric vehicle (EV) business direction, Chung said Hyundai will “play an active role in electrification through specialized EV development for the Indian market” and envisioned the group leading India’s clean mobility sector by the time EV adoption becomes mainstream by 2030.
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