New Delhi, South Korean auto major Hyundai Motor Group on Thursday said it is looking to increase the annual production capacity of Hyundai and Kia brands in India by 15 lakh units per annum as part of its mid to long-term strategy. Country.
Outlining the company's strategy for the India market, Hyundai Motor Group (HMG Executive Chairman Euisun Chung) said the automaker plans to launch more EVs, as well as position the country as an export hub for neighboring countries. Also used in.
Chung visited India on April 23 to review the group's mid-to-long-term strategies to strengthen its position as a leading mobility provider.
Hyundai Motor Group is expanding its manufacturing footprint in the India region with the setting up of a combined annual production system of 1.5 million vehicle units for Hyundai Motor India and Kia India, Automake said.Hyundai Motor India will start operations at its Pune plant acquired from Genera Motors in the second half of next year.
It added that Hyundai Motor is currently improving the facility to create a production center capable of producing more than 200,000 units annually.
It said that with the Chennai plant's production capacity of 824,000 units, Hyundai Motor's annual production capacity when combined with the Pune plant will exceed one million units.
In addition, the annual production capacity of Kia India will also be expanded to 431,00 units within the first half of this year.
HMG said, “Overall, Hyundai Motor Group will have the capacity to produce approximately 1.5 million units annually in India.,
The group also plans to expand its EV lineup and create an EV ecosystem to accelerate customer onboarding and expand charging infrastructure.
HMG said this will also strengthen its SUV sales leadership in India.
Hyundai Motor India plans to unveil its first locally made EV in India next year.
Starting mass production of its first electric SUV model at the Chenna plant in late 2024, the company plans to produce five EV models by 2030, it said.
HMG said Hyundai Motor India will also utilize its sales network centers and increase the number of EV charging stations to 485 by 2030.Kia India will also start production of its local EV models in 2025 and plans to further expand its EV models.
The company will also focus on building EV charging infrastructure.
"India is one of the fastest growing economies globally and as this growth continues, Hyundai Motor India's strategic importance will further increase," Chung said while addressing employees at a town hall meeting.
He further added, “By leveraging our strong reputation and competitive quality in India, we aim to expand exports to neighboring countries, making India a global export hub to boost the competitiveness of our regional market.”
Chung said that around 2030, the automaker expects to see substantial expansion in the EV market in India."In anticipation of this development, Hyundai is focusing on developing locally customized EVs, with the aim of establishing us as a leading global EV brand," he said.
“We also plan to proactively build charging stations at strategic locations ‘including dealerships’ to facilitate EV adoption,” Chung said.
Hyundai Motor India sells models like Creta, Verna in the country while Kia India sells models like Seltos, Carens and Sonet.
Outlining the company's strategy for the India market, Hyundai Motor Group (HMG Executive Chairman Euisun Chung) said the automaker plans to launch more EVs, as well as position the country as an export hub for neighboring countries. Also used in.
Chung visited India on April 23 to review the group's mid-to-long-term strategies to strengthen its position as a leading mobility provider.
Hyundai Motor Group is expanding its manufacturing footprint in the India region with the setting up of a combined annual production system of 1.5 million vehicle units for Hyundai Motor India and Kia India, Automake said.Hyundai Motor India will start operations at its Pune plant acquired from Genera Motors in the second half of next year.
It added that Hyundai Motor is currently improving the facility to create a production center capable of producing more than 200,000 units annually.
It said that with the Chennai plant's production capacity of 824,000 units, Hyundai Motor's annual production capacity when combined with the Pune plant will exceed one million units.
In addition, the annual production capacity of Kia India will also be expanded to 431,00 units within the first half of this year.
HMG said, “Overall, Hyundai Motor Group will have the capacity to produce approximately 1.5 million units annually in India.,
The group also plans to expand its EV lineup and create an EV ecosystem to accelerate customer onboarding and expand charging infrastructure.
HMG said this will also strengthen its SUV sales leadership in India.
Hyundai Motor India plans to unveil its first locally made EV in India next year.
Starting mass production of its first electric SUV model at the Chenna plant in late 2024, the company plans to produce five EV models by 2030, it said.
HMG said Hyundai Motor India will also utilize its sales network centers and increase the number of EV charging stations to 485 by 2030.Kia India will also start production of its local EV models in 2025 and plans to further expand its EV models.
The company will also focus on building EV charging infrastructure.
"India is one of the fastest growing economies globally and as this growth continues, Hyundai Motor India's strategic importance will further increase," Chung said while addressing employees at a town hall meeting.
He further added, “By leveraging our strong reputation and competitive quality in India, we aim to expand exports to neighboring countries, making India a global export hub to boost the competitiveness of our regional market.”
Chung said that around 2030, the automaker expects to see substantial expansion in the EV market in India."In anticipation of this development, Hyundai is focusing on developing locally customized EVs, with the aim of establishing us as a leading global EV brand," he said.
“We also plan to proactively build charging stations at strategic locations ‘including dealerships’ to facilitate EV adoption,” Chung said.
Hyundai Motor India sells models like Creta, Verna in the country while Kia India sells models like Seltos, Carens and Sonet.
