Please Tell Us Your City

Knowing your city will help us provide relevant content to you.

Sorry! No matching results found. Try again.Error Identifying Your Location.

Log in to CarWale

Please enter your password
Forgot password?
Please enter your registered email

Or Login with

Sign in with facebook
Sign In with google

Sign up to CarWale

Please enter your name
Please enter your mobile number
Please enter your password
Please enter your password

Hyundai to invest over $1 Billion in India by 2020

January 31, 2018, 04:26 PM IST by Nikhil Puthran
Hyundai to invest over $1 Billion in India by 2020

Over the next three years, Hyundai will be investing over $1 billion (about Rs 6,300 crores) in India towards development of new products, powertrain and setting up of a new office building. Reports indicate that the Korean car manufacturer is contemplating on launching an electric vehicle next year and is also likely to relaunch the Santro brand with a fresh face around the festive season this year. Hyundai Motor India Ltd (HMIL) has lined up nine products to be introduced between 2018 and 2020.

Speaking to the media, Y K Koo, HMIL Managing Director and CEO revealed that the company’s new office will come up in Gurugram. Of the total nine products which are due to be introduced over a period of three years, two will be completely new models, one will be an electric vehicle, two facelifts and four will be full model changes of existing products. The electric version will arrive in India via CKD (completely knocked down) route and assembled at the company’s facility in Chennai.

Further elaborating on the company’s foray in electric vehicles (EV), Koo said, “Our first EV in India will be launched next year. At the moment we are yet to finalize whether it will be the Ioniq EV sedan or the full electric version of SUV Kona.” Hyundai is also studying the Indian market to understand customer preference which will help them in understanding on which model will be launched. The company is also reportedly waiting for clarity from the government in the form of an EV policy so that it can plan the road ahead keeping in view the 2030 target of 40 per cent of all personal vehicles being EVs. Koo further added that the current GST rate of 12 per cent must be reduced to 5 per cent in order help popularize the eco-friendly technology.

More details on future developments will be known over next few months.

Show CommentsHide Comments
  • Upcoming Cars

Honda CivicHonda Civic

7th Mar 2019

13L - ₹ 18L
Tata 45XTata 45X

Mar 2019

8L - ₹ 10L
BMW i8 RoadsterBMW i8 Roadster

Apr 2019

2.80Cr - ₹ 3Cr
Mahindra e20 NXTMahindra e20 NXT

Jul 2019

6L - ₹ 8L
Mahindra eKUV100Mahindra eKUV100

Dec 2019

8L - ₹ 9L
All Upcoming Cars
Ask the experts1800 2090 230Mon-Fri (9 AM - 8 PM)
Sat (9 AM - 5:30 PM)
Sun (9 AM - 7 PM)
Toll free

Select your city to avail offers

Currently available only in