Delhi- Hyundai Motor India said on November 13 that it is preparing to make India a strategic production hub for emerging markets, made possible by an increase in both domestic demand and exports.
During the investor call, CEO Ansoo Kim revealed plans to tap into growing demand for vehicles in India and the rapidly growing export market in the Middle East, Africa, South Asia and Latin America.
“We are seeing that domestic volumes are increasing, demand is increasing and the export market is also increasing,” Kim said during the conference. And again, we have a product line that is very suitable for emerging markets.”
Kim said Hyundai Motor India’s strong emerging market portfolio and growing sales volumes in India have created a unique balance of growth and flexibility for the company. “With a healthy mix of domestic and export volumes, we not only ensure profitability but also gain a natural hedge against market fluctuations,” he said.
To meet its growing demand, Hyundai Motor India has recently expanded its production capacity by purchasing a new plant in Pune, Maharashtra. With this growth, Hyundai’s total manufacturing capacity in India reaches 1.1 million units, ensuring that the company can meet both domestic and export needs. Management highlighted that Hyundai experienced strong growth of 30 percent in registrations, further strengthening Hyundai’s position in the market. Inventory levels are now less than four weeks old, as Hyundai prepares to launch new models such as the Alcazar facelift and the long-awaited Creta EV.
On the EV front, the company said the parent company’s access to global EV and battery technology positions it well to launch the EV ecosystem in India. “We are developing our own electric vehicle ecosystem in India. We are planning to launch four models of electric vehicles, including Creta EV. And we are also localizing electric vehicle supply chains, such as battery packs, drive trains and battery cases.
