Jeong Ui-seon (Chairman), Mo Di (Prime Minister) hold urgent meeting… “To pour over 20 trillion won into India over 7 years”

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Hyundai Motor Group’s Jeong Ui-seon (Chairman) held a separate meeting with Indian Prime Minister Narendra Modi at the Prime Minister’s official residence in New Delhi, India, on the 13th (local time), exchanging broad views on local mid- to long-term growth strategies and plans for developing the mobility industry. Since first entering the Indian market in 1996, Hyundai Motor Group has grown closely with India over the past 30 years. Recently, through the operation of its Pune plant, it has fully established an annual production capacity of 1.4 million units, securing a strong foothold for responding to local market demand and expanding exports to emerging countries.

During the meeting, Jeong Ui-seon (Chairman) reaffirmed India as a key strategic country that will drive Hyundai Motor Group’s future growth and expansion into Global South markets, announcing plans to carry out large-scale investments of approximately 15.5 billion dollars over the next seven years starting this year. This investment comprehensively includes new plant construction, significant strengthening of R&D capabilities, enhancing local supply chain competitiveness, and developing future new technologies. The establishment of an India-based specialized investment corporation to systematically coordinate and execute these efforts is also being actively promoted. In particular, based on a prototype electric three-wheeler developed in cooperation with India’s TVS Motor Company, the company is accelerating its lead in the future mobility ecosystem by aiming for commercialization by the end of 2027.

India has established itself as the world’s third-largest core automobile market, following China and the United States, based on its massive population of approximately 1.47 billion and high growth rates at the world’s highest level. Despite high tariff barriers of 70 to 110 percent imposed on imported finished vehicles, Hyundai and Kia sold a total of over 850,000 units last year, recording a high market share of 18.7 percent and firmly maintaining their position as the second-largest player locally.

In addition to expanding its overwhelming local production base, Hyundai Motor Group plans to fully establish itself as a top-tier mobility company truly loved by the Indian people by continuing sincere social contribution activities, such as the “Samars” campaign for supporting the independence of persons with disabilities and establishing vocational technical schools that cultivate 13,000 technical talents annually.

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*This content was translated by AI.View Original