Updated April 25th, 2024 at 14:42 IST

Hyundai Motor Group to boost production capacity in India

The expansion includes establishing a production system capable of manufacturing 1.5 million vehicle units annually for Hyundai Motor India and Kia India comb

Reported by: Business Desk
Hyundai Motor Group to boost production capacity in India | Image:Hyundai
Advertisement

Hyundai Motor production: Hyundai Motor Group announced plans to ramp up annual production capacity for Hyundai and Kia brands in India to 1.5 million units as part of its mid-to-long-term strategy. Euisun Chung, Executive Chair of Hyundai Motor Group, unveiled the strategy during a visit to India on April 23, emphasising the group's commitment to bolstering its position as a leading mobility provider.

The expansion includes establishing a production system capable of manufacturing 1.5 million vehicle units annually for Hyundai Motor and Kia combined. Hyundai Motor is set to commence operations at its Pune plant, acquired from General Motors last year, in the second half of next year. The facility is undergoing enhancements to accommodate an annual production capacity exceeding 200,000 units.

Advertisement

By combining the Pune plant's capacity with the Chennai plant's existing capacity of 824,000 units, Hyundai Motor Group will have an overall annual production capacity surpassing one million units. Kia's annual production capacity will also increase to 431,000 units in the first half of this year.

The group's strategy extends beyond production expansion to include a focus on electric vehicles (EVs). Hyundai Motor  plans to introduce its first locally produced EV next year and aims to launch five EV models by 2030. Additionally, Hyundai and Kia will prioritise building an EV ecosystem, including expanding charging infrastructure and establishing charging stations at strategic locations, including dealerships.

Advertisement

Chung emphasised Hyundai's commitment to growing EV market, aiming to establish the company as a leading global EV brand by tailoring EV offerings to local preferences and proactively developing charging infrastructure. Hyundai Motor currently offers models like the Creta and Verna, while Kia sells models like the Seltos, Carens, and Sonet.

(with PTI inputs)

Advertisement

Published April 25th, 2024 at 14:42 IST