Drishtikone
Hyundai is thinking BIG about India. Going to make it a hub for smaller cars.. I guess with a reason. That’s the only country where those small cars will be bought … and bought in large numbers.. and if these cars work in India.. they would work anywhere!!
The investment it is talking is huge from a annual perspective of just one company. In fact, Hyundai has just invested in a $1 billion plant in Alabama in the US too. This company is thinking big in all regions. That is the greatest thing about the Koreans! From Hyundai to Samsung they are after the Japanese monopolies.
Hyundai is betting big on India. The South Korean auto major wants to become the largest selling car manufacturer in this country. To achieve this end, it is looking at introducing two brand new cars every year and has already declared its intention to convert India into a global hub for small cars.
Hyundai Motor India’s managing director HS Lheem does not rule out the possibility of India eventually becoming the only Hyundai operation worldwide which will produce small cars for global consumption. The Santro, for example, is being produced only in India even now. But, he hastens to add, unlike other companies, Hyundai will not make India a global hub by manufacturing for other brands and will instead introduce only its own products in the country.
Even for the domestic market, Hyundai has major plans up its sleeves. It has already earmarked a $860 million investment by next year for putting up a second manufacturing plant that will take up its total installed capacity to six lakh units a year. Also on the anvil is a brand new model in the small car segment (apart from the flagship Santro), the launch of the much-awaited Verna (which is another name for Accent), and a whole range of diesel cars.
In fact, Hyundai appears to be betting big on the diesel segment. Lheem says the Korean parent has successfully developed 1.2-litre and 1.5-litre diesel engines and both of these will be introduced in India in the near future. He acknowledged that the 1.2 litre engine will be fitted on to the Getz, adding that a diesel Sonata and a 1.5-litre diesel Verna are also to be launched in the country this year.
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