Hyundai to invest Rs. 6,500 crore in India

Mr. YK Koo, Managing Director, Hyundai Motor India has told the media that the company will be investing Rs. 6,500 crore to expand the capacity of its Indian operations by 50,000 units. Hyundai will also launch 9 new models over the next 3 years. These will include the Kona electric SUV and other new models as well as facelifts.

Hyundai's production increased from 6.65 lakh units in 2016 to 6.78 lakh units the following year. The company aims to sell 7 lakh units in 2018 and 7.5 lakh units in 2019. At present, the carmaker hasn't got any plans for a new production facility. However, if required, the company would decide on it after 2020.

It has also been reported that Hyundai is planning to make changes to its manufacturing process to save time and increase output. The company plans to get assembled items from vendors instead of individual components. 

Source: ET Auto