Hyundai is set to ramp up its investments in India, recognizing the country’s significant role in its global operations. José Muñoz, President and CEO of Hyundai Motor Company (HMC), stated that India is crucial for the company’s expansion, highlighting its importance as a major export and manufacturing hub. At a recent town hall meeting in Gurugram, Muñoz emphasized the company’s commitment to enhancing its market share in India by focusing on advanced technologies, innovative products, and better customer services.
India ranks as the third-largest market for Hyundai worldwide, with Hyundai Motor India Limited (HMIL) being the second-largest passenger car manufacturer in the country. The company sees ample opportunities to increase its investments in India following the success of HMIL’s initial public offering (IPO). This influx of capital will aid in further product development and scaling up production in the region. As Hyundai approaches its 30th anniversary in India in 2026, Muñoz expressed confidence in the company’s growth trajectory in the country.
As part of its plans to increase production, Hyundai will set up a new manufacturing facility in Talegaon, Maharashtra. This plant will cater to the growing demand for Hyundai vehicles, not just in India but also for exports, reinforcing the nation’s position as a pivotal manufacturing hub for the company.
Muñoz also reaffirmed Hyundai’s commitment to the “Make in India” initiative, contributing to the development of a “Viksit Bharat” or a developed India. He stressed that the new facility in Maharashtra would bolster both local sales and international exports, aligning with Hyundai’s long-term vision to strengthen its presence in India and beyond.
In line with its global ambition to sell two million electric vehicles (EVs) by 2030, Hyundai is committed to expanding its EV offerings in India. Muñoz pointed out that India’s role will be central to achieving this target, with a focus on increasing EV accessibility and investing in necessary infrastructure to support the country’s transition to electric mobility.
