The chief of Hyundai Motor Group recently visited India and laid out a vision to bolster its operations there to utilise the country as a key export hub for the South Korean automaker, the group said on Thursday.
Over the past year, Hyundai Motor Group has announced new investment plans in India totalling approximately 5 trillion won ($3.75 billion), reflecting the group’s intent to better target one of the fastest growing major automotive markets in the world.
Euisun Chung, Hyundai Motor Group’s executive chair, visited the group’s Indian headquarters in Gurugram, Haryana on Tuesday and discussed medium- to long-term strategies for the Indian market with employees.
He also held a town hall with some 400 employees and shared his future visions. It marked the first time for Chung to hold a town hall with employees overseas, reports Yonhap news agency.
At the meeting, Chung shared his vision to nurture India as the group’s global export hub as Hyundai expands its business to Asia, the Middle East, and Africa.
He also highlighted customer trust, employees’ dedication, and technological expertise as key growth factors in India, while expressing pride in the group consistently achieving the second position in the Indian market share.
Regarding Hyundai’s electric vehicle (EV) business direction, Chung said Hyundai will “play an active role in electrification through specialised EV development for the Indian market” and envisioned the group leading India’s clean mobility sector by the time EV adoption becomes mainstream by 2030.
Hyundai Motor has long established India as one of its largest global production bases.
The company established its first Indian manufacturing plant in 1998 and a second one in 2008.
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