Hyundai to Invest another $1 Billion in India

South Korea-based auto maker Hyundai plans to invest over $1 billion in India in the next three years. The company, which operates through its wholly-owned arm Hyundai Motors India Ltd, plans to launch an electric vehicle next year.

Managing director and CEO Y. K. Koo  said, “Our total investment till 2020 will be over $1 billion. The investments will be on nine new products to be launched between this year and 2020, powertrain development, and setting up of our new office building in Gurugram.” Speaking about the new products to be introduced, he said, “Two will be completely new models, one will be an electric vehicle, two facelifts, and four will be full model changes of existing products.”

CEO Y.K.Koo
                                                                                                                                                   Managing Director and CEO Y. K. Koo

Last year, Hyundai Motors India sold 678,000 auto units in the country. With 20 years in the Indian market, the firm has a market share of 16.5 percent in the passenger vehicle segment.

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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