- Hyundai Motor Group to determine mid-to long-term methods to solidify its place as a number one mobility supplier in India
- Hyundai Motor India to determine an annual manufacturing system of 1 million models by 2025; Mixed with Kia India, Hyundai Motor Group to have the ability to yearly produce 1.5 million models yearly in India
- Electrification technique to strengthen management within the Indian EV market by increasing EV native manufacturing and lineups in addition to creating EV ecosystems
- Govt Chair Chung additionally had a city corridor assembly to share visions and strengthen belief with Hyundai Motor India staff
- Roughly 400 native staff attended the positioning, whereas over 3,000 joined by way of a video connection throughout all Hyundai Motor websites in India
- Govt Chair highlighted the Group’s customer-centric philosophy, strategic significance of India in addition to electrification methods and future instructions
- Hyundai Motor Group to proceed search future development methods in India, which has emerged because the world’s fifth largest financial system and prime three vehicle markets
Hyundai Motor Group (the Group or HMG) Govt Chair Euisun Chung visited India to overview the Group’s mid- to long-term future mobility methods, which lay the muse for its management within the Indian market and sustainable development. The primary abroad city corridor assembly with the Govt Chair was additionally held with Hyundai Motor India staff.
Amid the rising strategic significance of India, Govt Chair Chung’s go to to the nation is aimed toward solidifying the Group’s place as a number one mobility supplier in India, whereas exploring numerous enterprise alternatives within the quickly evolving Indian market. The Group can be dedicated to fulfilling its social obligations by way of culturally attuned CSR and ESG actions, along with positioning itself as a pretty firm for Indian clients.
Celebrating its 30th anniversary in 2026, Hyundai Motor India is growing its 2030 technique underneath the slogan ‘Innovator in Mobility and Past’. Kia India, which has additionally shortly grown into a significant Indian vehicle model, can be selling quantitative and qualitative development by way of its ‘Kia 2.0’ technique.
Hyundai Motor Group is delivering a significant manufacturing advance within the Indian area with the institution of an annual manufacturing system of 1.5 million car models for Hyundai Motor India and Kia India mixed. The Group will increase its EV lineup and create an EV ecosystem to speed up buyer uptake and increase charging infrastructure. It can additionally strengthen its SUV gross sales management and promote social accountability actions in consideration of Indian tradition.
Govt Chair Chung performed an in-depth overview of and engaged in detailed discussions on Hyundai Motor Group’s mid-to long run methods in India on the new Hyundai Motor India Headquarter Delhi workplace, located in Gurugram. A city corridor assembly was additionally held on April 23 to speak in particular person with Hyundai Motor India staff. The aim of the assembly was to share the Group’s imaginative and prescient and interact with colleagues forward of recent alternatives such because the institution of an annual manufacturing system of 1 million models and promotion of the Group’s electrification technique.
Alongside Govt Chair Chung, key executives from Hyundai Motor – together with Jaehoon Chang, the President and CEO of Hyundai Motor Firm, and Unsoo Kim, Managing Director and CEO of Hyundai Motor India – participated, along with 400 Hyundai Motor India staff.
The occasion marked the primary time that Govt Chair Chung held a city corridor assembly outdoors of Korea. He has beforehand performed two city corridor conferences in Korea and final yr led Hyundai Motor Group’s New Yr’s occasion within the type of a city corridor assembly.
Mid-to long-term methods to solidify HMG’s main place within the Indian mobility market
Hyundai Motor Group has set its mid-to long-strategies to proactively reply to the Indian automotive market in addition to additional solidify its place as a number one mobility firm. Key to that is the laying of groundwork to increase manufacturing. Hyundai Motor India will begin working its Pune plant within the second half of subsequent yr. Positioned in Maharashtra, western India, the manufacturing facility was acquired from GM final yr. Hyundai Motor is at the moment improving the power to create a manufacturing hub able to constructing greater than 200,000 models yearly, utilizing good manufacturing expertise and techniques.
With the addition of the Chennai plant’s manufacturing capability of 824,000 models, Hyundai Motor can have an annual manufacturing capability of over a million models when mixed with the Pune plant.
Kia India’s yearly manufacturing capability may even be expanded to 431,000 models inside the first half of this yr. Mixed collectively, Hyundai Motor Group can have the power to provide roughly 1.5 million models yearly in India.
Hyundai Motor Group additionally plans to strengthen its EV management within the Indian EV market by way of its electrification technique.
Hyundai Motor India plans to unveil its first regionally produced EV in India subsequent yr and proactively reply to the expansion of the Indian EV market. Beginning with the mass manufacturing of its first electrical SUV mannequin on the Chennai plant on the finish of 2024, the corporate plans to additional produce 5 EV fashions by 2030. Hyundai Motor India may even make the most of its gross sales community hubs, increasing the variety of EV charging stations to 485 by 2030.
Kia India may even begin manufacturing of its native EV mannequin in 2025 and plans to additional increase its EV fashions. The corporate may even concentrate on constructing EV charging infrastructure.
Hyundai Motor and Kia not too long ago signed a Memorandum of Understanding with Exide Power Options Ltd., a number one Indian battery firm, and are pursuing the native manufacturing of batteries for devoted Indian EV fashions.
Hyundai Motor Group goals to increase its presence within the native EV market, by localizing the manufacturing of EV batteries, which account for a good portion of EV value. This technique will guarantee worth competitiveness within the price-sensitive Indian market.
Following its rising standing in India, Hyundai Motor Group can be enhancing its dedication to humanity and social accountability.
In 2006, Hyundai Motor India established the Hyundai Motor India Basis (HMIF) to help numerous social causes and has actively engaged in social accountability actions. The corporate has engaged in environmental sustainability by planting 80,000 timber to guard forests and water sources. It’s also recycling manufacturing facility waste supplies into desks and chairs in addition to upcycling group waste with biogas and electrical energy. Hyundai has additionally addressed social challenges by way of cellular clinics, science libraries, and help for public vocational faculties in India.
Since 2023, Kia India has additionally been selling its ‘Inexperienced Workshop’ challenge, which evolves its gross sales places of work into eco-friendly amenities. The photo voltaic panel powered facility optimizes water and vitality utilization extensively, which helps in assembly greater than 80% of the vitality necessities whereas powering an EV AC charging unit. The corporate can be working an financial self-reliance help program for girls in India with initiatives to publicize the hazards of plastic waste and restore wilderness areas by way of planting timber.
City corridor assembly: Sharing a imaginative and prescient and strengthening belief forward of recent challenges
Greater than 3,000 staff additionally joined the city corridor assembly on-line, together with these at Hyundai Motor India headquarters in Gurugram, the Chennai Plant, Pune Plant, and every regional headquarters.
Govt Chair Chung harassed firstly of the assembly, “Our customer-centric mindset is all the time on the coronary heart of our enterprise to boost what we will provide our clients and to higher humanity,” highlighting the corporate’s philosophy.
Govt Chair Chung additionally centered on India’s variety, saying: “India is a various nation, and mixed with Hyundai Motor Group staff’ creativity and collaboration this may be our power.”
Explaining the explanation that he steered the city corridor assembly in India, Govt Chair Chung mentioned, “The success of those formidable initiatives by Hyundai Motor India is a testomony to the inventive and progressive efforts of our staff throughout the area.”
Extoling Hyundai Motor Group’s success within the Indian market, Govt Chair Chung highlighted Hyundai Motor Group’s technological strengths in addition to the loyalty and belief of those that have chosen Hyundai for a few years.
“Hyundai introduced its experience in producing compact automobiles and superior expertise. The favorable circumstances of the Indian vehicle market mixed with Hyundai’s technological strengths led to synergistic outcomes,” added Govt Chair Chung. “Nonetheless, above all else, the important thing components behind Hyundai’s success in India are the dedication of its staff, who’re among the many brightest minds globally and reveal profound integrity.”
In the course of the assembly, Govt Chair Chung additionally emphasised the strategic significance of the Indian area.
“Hyundai Motor India has been pivotal in driving the expansion of the Hyundai Motor Group, having navigated by way of quite a few challenges together with the COVID19 pandemic, international financial crises, and provide chain disruptions resulting from semiconductor shortages. We take satisfaction in persistently securing the second-largest market share on this vibrant market and can proceed to raise Hyundai as a premium model.
“India is among the many fastest-growing economies globally, and as this development continues the strategic significance of Hyundai Motor India will solely enhance. By leveraging our sturdy status and aggressive high quality in India, we intention to increase exports to neighboring nations, making India the worldwide export hub to spice up our regional market competitiveness.”
Hyundai Motor India staff expressed important curiosity within the firm’s EV marketing strategy within the Indian market.
“By round 2030, we count on to see a considerable enlargement within the EV market. In anticipation of this evolution, Hyundai is targeted on growing regionally tailor-made EVs aimed toward establishing us as a number one international EV model,” defined Govt Chair Chung. “We additionally plan to proactively construct charging stations at strategic places – together with dealerships – to facilitate the adoption of EVs.”
In the course of the city corridor assembly, Govt Chair Chung underlined plans for social accountability within the area, commenting: “Hyundai’s success in India is rooted not simply in our enterprise operations however in our dedication to humanity and social accountability.
“We’re dedicated to advancing carbon neutrality and supporting the round financial system to make sure sustainable development for humanity. Our merchandise are designed to handle social points, and our enterprise initiatives present alternatives for youth teams and the underprivileged to develop abilities and pursue their goals.”
Govt Chair Chung additionally answered the staff’ on-site questions and shared his private recommendation.
Talking in regards to the firm’s electrification technique, Govt Chair Chung mentioned, “We’ll develop EVs tailor-made to the Indian market and increase EV infrastructure within the area. We’ll lead the subsequent technology of mobility in India, enjoying a key function in electrification, and we’ll proceed to raise Hyundai as a premium model.”
Hyundai Motor Group has achieved sturdy development over the previous 28 years, since Hyundai Motor India first entered the Indian market in 1996.
In 2004 Hyundai Motor surpassed the five hundred,000-unit mark in simply 5 years of gross sales, creating a big achievement within the Indian market. The corporate reached a million models in 2007 and 5 million models in 2017, recording cumulative gross sales of 8.24 million models by the top of 2023.
After its first sale in India in 2019, Kia India additionally shortly grew right into a model that sells over 200,000 models yearly, led by its SUV competitiveness.
For the January-March interval this yr, Hyundai Motor Group manufacturers recorded mixed gross sales of 225,686 automobiles, up 1.5 p.c yr over yr. Hyundai Motor Group goals to realize gross sales of round 890,000 models this yr, a focused 3.9 p.c enhance over 2023 efficiency of round 857,000 models mixed in India.
