Hyundai Motor Group announces $15.5 billion India investment plan through 2032
The company says the seven-year plan will fund manufacturing, research, local suppliers and future technologies in India.
Hyundai Motor Group announced on Oct. 13 in New Delhi that it plans to invest $15.5 billion in India from 2026 through 2032, a seven-year commitment covering manufacturing, research and local supply chains. Executive Chair Euisun Chung announced the plan during a meeting with Indian Prime Minister Narendra Modi, according to Yonhap News Agency.
What Hyundai plans to fund in India
The company said the investment would cover manufacturing expansion, research and development infrastructure, local suppliers, parts localization and future technologies. It also plans to establish a dedicated investment entity in India. The reports do not specify how the $15.5 billion would be divided among those projects.
Hyundai Motor Co. and Kia Corp. have a combined annual production capacity of 1.4 million vehicles in India and sold 852,164 vehicles there last year, Yonhap reported.
Sources and context
- Hyundai Motor Group to invest US$15.5 bln in India through 2032Yonhap News Agency
- South Korean carmaker Hyundai plans 'strategic' investment of $15.5 billion in India by 2032CNBC
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