Hyundai Motor Group to establish mid-to long-term strategies to solidify its position as a leading mobility provider in India
Hyundai Motor Group, one of the world’s largest automotive manufacturers, has set its sights on India as a key market for its future growth and success. The group, which includes Hyundai Motor Company and Kia Corporation, has announced its plans to establish mid-to long-term strategies to solidify its position as a leading mobility provider in the country.
India, with its growing economy and increasing demand for automobiles, has become a crucial market for global automotive players. Hyundai Motor Group has recognized this potential and is committed to expanding its presence in the country with innovative products and services.
The group’s plan for India includes the launch of new models, expansion of its production facilities, and investment in research and development. These strategies will not only strengthen the group’s position in the Indian market but also contribute to the country’s economy and job creation.
As part of its expansion plans, Hyundai Motor Group is set to introduce new models in various segments, including electric and hybrid vehicles. With the Indian government’s push towards electric mobility, the group’s focus on eco-friendly vehicles is a step in the right direction. This move will not only cater to the growing demand for sustainable transportation but also align with the group’s global vision of becoming a leader in clean mobility.
In addition to new models, the group will also be expanding its production facilities in India. The group’s current manufacturing plant in Chennai has a production capacity of 7.5 lakh units per annum, and with the growing demand, the group plans to increase this capacity to 10 lakh units by 2021. This expansion will not only cater to the domestic demand but also serve as an export hub for the group’s global markets.
Moreover, Hyundai Motor Group is committed to investing in research and development to cater to the specific needs and preferences of the Indian market. The group’s R&D center in Hyderabad, which is the largest outside of Korea, will play a crucial role in developing products and technologies tailored for the Indian market. This move will not only enhance the group’s competitiveness but also contribute to the development of India’s automotive industry.
Hyundai Motor India, the group’s subsidiary in the country, has been a key player in the Indian automotive market for over two decades. The company has consistently introduced innovative and high-quality products that have won the hearts of Indian consumers. With its strong brand presence and customer-centric approach, Hyundai Motor India has become the second-largest car manufacturer in the country.
Hyundai Motor Group’s mid-to long-term strategies will further strengthen Hyundai Motor India’s position in the market. The company’s focus on expanding its product portfolio, production capacity, and investment in R&D will not only help it maintain its market share but also increase its presence in new segments. This will not only benefit the company but also contribute to the growth of the Indian automotive industry.
The group’s commitment to the Indian market goes beyond just business. Hyundai Motor Group has been actively involved in various social initiatives in the country, including road safety programs, skill development, and community welfare activities. With its strong corporate social responsibility initiatives, the group has been able to make a positive impact on the lives of people in India.
In conclusion, Hyundai Motor Group’s decision to establish mid-to long-term strategies to solidify its position as a leading mobility provider in India is a testament to its commitment to the country. With its focus on innovation, expansion, and investment, the group is set to make a significant contribution to the Indian automotive industry and the economy as a whole. As a leading global automotive player, Hyundai Motor Group’s presence in India will not only benefit the company but also contribute to the country’s vision of becoming a global leader in clean and sustainable mobility.
