India, recognized as a vital export and manufacturing hub, plays a significant role in Hyundai Motor Company’s (HMC) global operations, José Muñoz, President and CEO of HMC, emphasized during a town hall meeting held on March 4 at the company’s headquarters in Gurugram, as reported by Autocar. In his address, Muñoz highlighted Hyundai’s commitment to expanding its market share in India through substantial investments in cutting-edge technology and innovative products, as well as enhancing customer service.
He reiterated Hyundai’s strong support for the “Make in India” initiative, which aims to promote domestic manufacturing and contribute to the vision of a “Viksit Bharat” (Developed India). Muñoz pointed out that India is the third-largest market for Hyundai globally, with Hyundai Motor India Limited (HMIL) standing as the country’s second-largest passenger car manufacturer. This underscores the importance of the Indian market in Hyundai’s overall strategy.
Moreover, Muñoz noted that HMIL’s recent initial public offering (IPO) has provided the company with increased financial resources to invest in product development and expand production capabilities in India. He expressed confidence in HMIL’s ability to continue its growth trajectory and set industry benchmarks, especially as the company approaches its 30th anniversary in India in 2026.
To further enhance its local production capacity and meet the rising demand for vehicles, Hyundai plans to establish a new manufacturing facility in Talegaon, Maharashtra. This facility is expected to not only support domestic sales but also bolster exports, thereby solidifying HMIL’s position as a major hub for global manufacturing within Hyundai’s network.
Additionally, Muñoz reiterated the company’s ambition to significantly increase the number of electric vehicles (EVs) available in India, aligning with Hyundai’s global goal of selling two million EVs by 2030. He emphasized that India will be crucial in achieving this target, and Hyundai is committed to making EVs more accessible to Indian consumers. This includes investing in the necessary infrastructure to facilitate the transition to electric vehicles, ensuring that India can embrace sustainable mobility solutions effectively.
Hyundai’s proactive approach in India reflects its recognition of the country’s growing automotive market and the increasing demand for environmentally friendly transportation options. The company aims to leverage its technological expertise and manufacturing capabilities to foster innovation and contribute positively to India’s automotive landscape.
