Hyundai is making big plans for India. The South Korean car giant has announced a massive investment of 45,000 crore rupees by 2030. They’re bringing in new leadership, too. For the first time, an Indian named Tarun Garg will head the company’s operations here.
Hyundai aims to launch 26 new products in India by 2030. This includes seven new vehicle models and a locally designed electric SUV set to hit the market by 2027. Jose Munoz, the President and CEO of Hyundai Motor Co, revealed these plans during a special investor event.
A key part of Hyundai’s strategy is its new finance arm, Hyundai Capital, which will begin operations in India in early 2026. Munoz noted that having sales financing can boost brand loyalty, with a significant improvement reported in markets where it exists.
Hyundai has been thriving globally, climbing from the seventh to the third largest automaker in sales from 2008 to 2022. Munoz emphasized the company’s commitment to India, stating, “We’re building while others are cutting back.”
Hyundai sees India becoming a key market, with hopes that it will be their second-largest region worldwide by 2030, just behind North America. Currently, India accounts for 15% of their global sales.
The company also aligns with India’s ‘Make in India’ initiative, aiming for up to 30% of its production to be exported. This focus not only shows Hyundai’s confidence in the Indian market but also highlights its role in transforming India into a global manufacturing hub.
Industry experts believe this move could significantly impact the Indian automotive market. According to a recent report by the Society of Indian Automobile Manufacturers, electric and hybrid vehicles are expected to grow by 30% by 2030. Hyundai’s plan to introduce eight hybrid SUVs aligns well with this trend.
The shift towards electric and hybrid vehicles is not just about new technologies; it reflects changing consumer preferences. As sustainability becomes a priority, Hyundai aims for over 50% of its vehicles to be eco-friendly by 2030.
In summary, Hyundai is not just investing money in India; they’re investing in the future. The company is prepared to adapt to changing markets and consumer demands while looking to fortify its position as an industry leader.
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