Hyundai Motor Unveils Ambitious Plans To Make India Global Production Hub

(MENAFN- KNN India) New Delhi, Nov 14 (KNN) Hyundai Motor India (HMI), the nation's second-largest automotive manufacturer, has unveiled extensive expansion plans aimed at transforming India into a strategic production hub for both domestic and international markets.

During a recent conference call, HMI Managing Director Unsoo Kim outlined the company's strategy to increase production capabilities in response to growing demand across multiple regions, including Africa, the Middle East, Latin America, and South Asia.

Kim emphasised that maintaining a balanced portfolio between domestic sales and exports would help secure profitability while providing a natural buffer against market volatility.

The automotive giant has recently bolstered its manufacturing capacity through the acquisition of a new facility in Pune, bringing its total production capability in India to 1.1 million units.

This expansion aligns with the company's robust performance, marked by a 30 percent growth in vehicle registrations and inventory levels maintained at less than four weeks.

In a significant push toward electrification, Kim detailed plans to introduce four electric vehicle models, including the CRETA EV, while developing local supply chains for critical components such as battery packs, drive trains, and battery shells.

The company's product pipeline also includes updates to existing models, with the Alcazar facelift scheduled for launch.

Despite these positive developments, Hyundai faced challenges in its export operations during the July-September quarter, with shipments affected by disruptions in the Red Sea region stemming from ongoing geopolitical tensions in the Middle East.

(KNN Bureau)

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