Hyundai India Invests

Hyundai Motor India plans to invest Rs450bn and launch 26 new models by 2030, with green powertrains projected to account for over half of its overall range. The company's managing director and CEO Tarun Garg stated that the investment and model expansion form part of a broader strategy encompassing increased electric vehicle localisation, a wider green powertrain range and a strengthened presence in rural markets.

Investment and Expansion

The Indian unit of Hyundai Motor plans to invest a significant amount in the country, with a focus on expanding its product lineup and increasing its presence in rural markets. According to Garg, the company's upcoming dedicated electric sport utility vehicle is to be designed from the ground up to fit the Production Linked Incentive scheme.

Green Powertrains and Localisation

Hyundai Motor India is working to deepen local manufacturing of batteries, drivetrains and power electronics to support its electric vehicle plans. The company aims to increase the localisation of its electric vehicles, with green powertrains projected to account for over half of its overall range by 2030.

Rural Market Expansion

The company is expanding its rural presence, with six in ten new outlets being opened in rural areas. Hyundai Motor India expects rural markets to account for about 30% of total sales over the next three to four years, compared with current levels. The rural expansion is expected to be supported by two forthcoming products, a midsize SUV and a compact electric SUV.

Sales and Growth

Domestic sales between April and August this fiscal year stood at 247,980 units, up 12.6% from 220,233 units in the same period last year. The company operates over 1,510 sales outlets and more than 1,670 service centres nationwide. According to Garg, rural market growth in quarter one was 23% and urban growth was 2.8% in quarter one of this fiscal.

The company's plans follow the product roadmap unveiled by parent company Hyundai Motor at its 2026 CEO Investor Day in Seoul, which set a target of 5.55 million global vehicle sales annually by 2030. Hyundai's CEO José Muñoz confirmed that the company plans to launch more than 100 new and updated models by 2030.