Hyundai intends to increase manufacturing capacity and launch additional electric vehicles in India

Hyundai intends to increase manufacturing capacity and launch additional electric vehicles in India

Hyundai Motor Group (HMG) Executive Chair Euisun Chung detailed the company's approach for the Indian market, stating that the carmaker intends to introduce more EVs and use India as an export base for the surrounding nations.

In the second part of the next year, Hyundai Motor India will begin operations at the Pune facility that it purchased from General Motors last year.

As part of its mid-to-long-term plan in India, South Korean automaker Hyundai Motor Group said on Thursday that it aims to increase the yearly manufacturing capacity across the Hyundai and Kia brands to 15 lakh vehicles annually.

Hyundai Motor Group (HMG) Executive Chair Euisun Chung detailed the company's approach for the Indian market, stating that in addition to increasing the number of EVs sold, the carmaker intends to use India as an export base for its neighboring nations.

On April 23, Chung traveled to India to assess the organization's medium-to-long-term plans for securing its place as a top mobility supplier.

With the construction of an annual production system capable of producing 1.5 million vehicle units for Hyundai Motor India and Kia India combined, Hyundai Motor Group is increasing its manufacturing footprint in the Indian area, according to the carmaker.

In the second part of the next year, Hyundai Motor India will begin operations at the Pune facility that it purchased from General Motors last year.

According to the statement, Hyundai Motor is now renovating the space to turn it into a manufacturing center with the capacity to produce over 200,000 vehicles a year.

Hyundai Motor would have an annual manufacturing capacity of over one million units when merged with the Pune factory, it noted, with the addition of the Chennai plant's 824,000 units of production capacity.

In addition, Kia India plans to increase its annual manufacturing capacity to 431,000 units by the first half of this year.

"Combined together, Hyundai Motor Group has the ability to produce approximately 1.5 million units annually in India," said HMG.

In order to hasten client adoption and develop the infrastructure for charging, the company also intends to broaden its selection of EVs and establish an EV ecosystem.

Additionally, HMG indicated that it would solidify its position in SUV sales in India.

Next year, Hyundai Motor India stated, it would introduce its first domestically made electric vehicle in India.

The business said that it would begin mass producing its first electric SUV model at the Chennai facility at the end of 2024 and that it will go on to build five more EV vehicles by 2030.

According to HMG, Hyundai Motor India plans to make use of its sales network hubs in order to increase the number of EV charging stations to 485 by 2030.

It further said that Kia India intends to continue growing its line of EV cars and would begin producing an indigenous EV model in 2025.

The corporation said that it would concentrate on developing infrastructure for EV charging.

At a town hall meeting, Chung told the workforce, "India is one of the fastest-growing economies in the world, and as this growth continues, the tactical significance of Hyundai Motor India will only increase."

He said that "by leveraging our strong reputation and competitive quality in India, we intend to expand exports to neighbouring countries, enabling India the global export hub to boost our regional market competitiveness." According to Chung, the manufacturer anticipates a significant growth in the electric vehicle (EV) industry in India by 2030.

"In anticipation of this evolution, Hyundai emphasizes on developing locally tailored EVs aimed at establishing us as a leading global EV brand," he said.

"We also plan to proactively build electric vehicle charging stations at strategic locations including dealerships to help encourage the adoption of EVs," Chung said.

In the nation, Hyundai Motor India offers the Creta and Verna models, while Kia India offers the Seltos, Carens, and Sonet models. PTI MSS SGC DRR