Hyundai Motor Group announced a substantial investment of $15.5 billion in India, aimed at bolstering its manufacturing capabilities and research and development infrastructure over the next seven years. Euisun Chung, the executive chair, emphasized the strategic importance of India, stating that this investment reaffirms the company's long-term commitment to the market.
The Indian automotive sector is experiencing robust growth, with passenger car sales reaching a record 439,000 units in August, a 36% increase year-on-year. Hyundai, currently the third-largest car manufacturer in India, sold 247,980 passenger cars from April to August this year.
Despite being edged out by competitors Mahindra & Mahindra and Tata Motors in the last financial year, Hyundai's total production capacity in India stands at 1.4 million vehicles, and it has successfully raised $3.3 billion through the listing of its India business unit in 2024.
This investment is expected to enhance Hyundai's market position and support its long-term growth strategy in one of the world's fastest-growing automotive markets