Hyundai to boost investments, as India’s role is important for global operations: CEO

India being an important export and manufacturing hub, plays a strong role in Hyundai’s global operations, José Muñoz, President and CEO of Hyundai Motor Company (HMC), highlighted on March 4 at the town hall meeting in the company’s headquarters, Gurugram, Autocar reported.

He emphasized the company's dedication to growing its market share in India by investing more in cutting-edge technology, innovative products, and improved customer service. Additionally, he reiterated Hyundai's backing for the "Make in India" campaign and its role in creating a "Viksit Bharat."

India is the third-largest market for Hyundai's worldwide operations, and HMIL is the country's second-largest passenger car maker, Muñoz underlined. Furthermore, he claimed that Hyundai now has more funds to devote to product development and production expansion in India because of HMIL's first public offering (IPO). He said he was confident in HMIL's ability to continue growing and setting industry standards as the company approaches its 30th anniversary in India in 2026.

Hyundai plans to build a manufacturing facility in Talegaon, Maharashtra, to boost local production capacity and fulfill the growing demand. The facility is anticipated to support exports as well as domestic sales, enhancing HMIL's standing as a major hub for global manufacturing.

In addition, Muñoz restated the company's intention to increase the number of electric vehicles (EVs) it offers in India, in line with its global goal of selling two million EVs by 2030. He said that India would be crucial to achieving this objective and that Hyundai will endeavor to increase EVs' accessibility for Indian customers while making the required infrastructure investments to facilitate the country's shift to electric vehicles.