Mumbai, Oct. 19 -- Hyundai Motor is targeting a return to India's No. 2 passenger vehicle manufacturer position by 2028-29, supported by increased production capacity, 26 planned model launches, electric vehicle investment and faster localisation. The South Korean carmaker has fallen to fourth place in the market, but expects its newly inaugurated Pune plant to support its recovery.
The company currently has annual capacity of 170,000 units at its Talegaon facility in Maharashtra and plans to expand it in phases to 320,000 units by 2030. Combined with its Chennai operations, Hyundai Motor's total annual manufacturing capacity is expected to reach nearly 1.14 mn units by 2030.
Hyundai Motor Group has announced investments of $15.5 bn in India between 2026 and 2032 across manufacturing, research and development, localisation, technology and emerging mobility businesses. About 60 per cent of the investment will be allocated to production, 20 per cent to new technologies, including artificial intelligence and startups, and the remaining 20 per cent to research and development.
Hyundai Motor India plans to launch 26 models, including four electric vehicles, by 2029. It is also preparing hybrid models and aims for sustainable vehicles to account for 50 per cent of its portfolio by 2030. The company plans to increase localisation from 83 per cent to 92 per cent and has committed Rs. 110 bn to Maharashtra, including Rs. 40 bn to be invested by 2030.
Exports currently account for 24 per cent of Hyundai Motor India's production, up from about 20 per cent five years ago, and the company aims to raise the share to 30 per cent. It has exported 4 mn passenger vehicles from India since 1999. The Pune facility will exclusively manufacture the new Hyundai Venue, with exports planned to more than 35 countries. Supplier investments in Maharashtra total nearly Rs. 46 bn, while 55 partners operate in Pune and the wider supplier ecosystem supports more than 18,000 jobs.
Published by HT Digital Content Services with permission from Construction World.