Hyundai India to Invest 32,000 Crore Over Next Decade

Hyundai Motor India is to invest 32,000 crore in India over the next ten years, from 2023 to 2032, said Unsoo Kim at a press conference held at Mumbai in connection with the HMIL IPO.Hyundai will invest 6,000 crores in its car plant at Pune as part of this investment.

New plant in Pune: The new plant in Pune will add quite a significant increase in production capacity from the current 824,000 units, to nearly 1.1 million units by 2028 up by 30%. The new plant will give ample opportunities to scale up the company's volumes across both domestic and export markets, setting volumes and market share more dynamically for both segments.

Hyundai is also shifting its focus to growing electric vehicle capability while expanding the premiumization strategy within the automobile space.

Hyundai looks at Indian SUV market through the prism of its global experience to discern future growth, There are grounds for hope in India's SUV market, surmises Hyundai, calling out the significant growth of SUVs in India and embracing the potential of the market.

Hyundai would spend heavily at its Indian unit on new product development, cutting-edge technology, and research and development. Investors in India as well as the world over will get a chance to hear that story when the IPO is launched.

Hyundai also talked about its rural strategy, it said a historical high level of rural penetration by the company. The company representative, speaking at the press conference quoted that "our rural reach is at an all-time high. It's a common misconception that rural customers prefer only small cars. In fact, from January to September, our SUV sales in rural areas are equal to those in urban markets.".

Hyundai IPO - Subscriptions open on 15th to 17th October; Institutional investors can start subscribing from 14th October; price band fixed at ?1865 and ?1960.