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Hyundai to make India global export hub, 2nd largest market
Rediff· 2025-10-17 08:56
Core Insights - Hyundai Motor India Limited (HMIL) aims to achieve a revenue milestone of ₹1 trillion by FY30, targeting a 30% contribution from exports and a 1.5-fold increase in revenue over the next five years [1][4][7] Investment Plans - The company announced an investment plan of approximately ₹45,000 crore over the next five years to support its growth strategy [3] Product Launches - Hyundai plans to launch 26 new products, including seven new nameplates, and aims to enter the multi-purpose vehicle (MPV) and off-road SUV segments [4][5] Electric Vehicle Strategy - The EV localization strategy will be implemented in phases, starting with local assembly at the Chennai plant and the establishment of a flexible battery plant [6] - The first locally manufactured dedicated electric SUV is expected to launch by 2027 [5] Export Strategy - Hyundai is positioning India as a global export hub, targeting 30% of total production for exports by 2030, with a focus on markets in West Asia, Africa, Central and South America, and Asia Pacific [9][10] Market Share Goals - The company aims to achieve over 15% domestic market share, with a strong focus on the high-growth SUV segment, targeting over 80% contribution from utility vehicles by FY30 [8][11] Future Growth Projections - The Indian automotive industry is projected to grow at an annual rate of 5.2% until 2030, with HMIL expecting to grow at 7% annually in the domestic market [10][11] Powertrain Options - Hyundai will offer a complete range of powertrain options, including internal combustion engines (ICE), CNG, EV, and hybrid technologies, with over 50% of its portfolio powered by cleaner technologies by FY30 [12][13][14]