Hyundai Eyes India’s Key Role In EV Growth; Plans Expansion

José Muñoz, President & CEO of Hyundai Motor Company (HMC), stated that India will be a key market in the company’s plan to achieve its goal of selling two million electric vehicles worldwide by 2030.

During his visit to India to review Hyundai Motor India Limited (HMIL) operations, José Muñoz emphasized the company’s commitment to making EVs more accessible and tailored to Indian consumers’ needs.

“With HMC’s target to sell 2 million EVs by 2030 globally, India will play an important role in achieving this milestone,” he said.

Munoz noted, “HMC will continue to support HMIL to expand its EV offering and invest in the necessary infrastructure to support this shift.”

Hyundai Motor India, which introduced the Creta EV in January to cater to the mainstream market, plans to roll out three more EVs in the coming years.

Previously, the company’s only electric offering was the premium Ioniq 5.

José Muñoz Highlights Talegaon Facility’s Role In Hyundai’s Growth

Speaking at a town hall meeting at HMIL’s headquarters in Gurugram, Muñoz highlighted the importance of the company’s upcoming manufacturing facility in Talegaon, Maharashtra.

“It will not only help meet the domestic demand but also position HMIL as a global manufacturing hub,” he noted.

Currently, Hyundai produces around 6,25,000 vehicles annually at its Chennai plant.

With the Talegaon facility set to become fully operational, the company aims to boost its total production capacity to 1.1 million vehicles per year.

Emphasizing India’s significance, Muñoz noted, “India is the third-largest market in Hyundai’s global operations. HMIL’s IPO has helped HMC to invest and expand in new products and additional production capacity in India. HMIL has emerged as a world-class automotive manufacturing and regional export hub and is integral to Hyundai’s global vision.”

Muñoz also outlined Hyundai’s long-term vision, stressing the importance of customer-centric innovation, product excellence, and sustainability.

HMIL stated that his visit underscored Hyundai’s commitment to India’s growth, aligning with the nation’s ‘Viksit Bharat’ initiative.

In a statement, HMIL stated, “Muñoz’s visit reinforced HMC’s commitment to HMIL while highlighting the overarching strategic goals, exploring new opportunities and fostering a culture of collaboration, innovation, and excellence. He also emphasized the importance of Hyundai’s customer-centric philosophy and achieving the highest standards of quality and customer care, to ensure sustainable success amid the rapidly evolving business environment. He reinforced HMC’s unwavering support to HMIL’s commitment towards India by continuing to contribute actively towards building a ‘Viksit Bharat’.”

Also Read: John Cockerill, EPHL Form Joint Venture For Indian Army’s Light Tank Turrets