KEY HIGHLIGHTS
- Pune-Plant of Hyundai will be producing 250,000 units and will become export hub
- India will receive the country's first built-from-scratch EV
- Read the full story to know in depth
Hyundai Motor Company hosted its CEO Investor Day in New York City, unveiling major announcements focused on India. The biggest highlight was the plan to introduce a Made-in-India EV before 2030, supported by a fully localized supply chain. Additionally, the Pune plant is set to play a key role in the brand's upcoming expansion. Stay tuned for more details - and don't forget to join the 91Wheels Whatsapp Channel to never miss an automotive update!
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Hyundai Motor Company
Hyundai Motor Company unveiled its most ambitious growth strategy today at the company's first CEO Investor Day held outside of Korea. The event served as a platform to communicate the company's mid-to long-term strategy to investors and stakeholders, emphasizing its commitment to revolutionary product expansion, manufacturing excellence and technological innovation. CEO laid down a roadmap for the company till 2030, and said, India will receive the country's first EV designed specifically for local drivers, while the market will also benefit from a localized supply chain.
"In an industry facing unprecedented transformation, Hyundai is uniquely positioned to win through our unmatched combination of compelling products, manufacturing flexibility, technology leadership, outstanding dealer partners and global scale, said Jose Munoz, President and CEO of Hyundai Motor Company. "We are delivering comprehensive electrified portfolios across all segments, localizing production in key markets, and leveraging breakthrough technologies from Software-Defined Vehicles to next-generation batteries. Our ability to adapt quickly, combined with the power of Hyundai Motor Group's 50+ affiliates and our unwavering commitment to customers, will enable us to continue unlocking tremendous value for our stakeholders. It's a great time to be with Hyundai."
India Angle
Hyundai currently sells only two EVs in India - the Creta Electric and the Ioniq 5 - both of which have received positive feedback and deliver decent sales for the brand. However, at the summit, the company revealed its plans to develop an affordable EV tailored for India, aimed at reaching a wider audience. We believe Hyundai could introduce something similar to the Inster, which it sells in Europe - a model positioned below the Creta Electric and likely to be far more affordable.
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Verdict
By 2030, Hyundai's Pune plant is set to become an export hub, with a production capacity of 2,50,000 units. India is clearly taking center stage in the companys global expansion plans. As the CEO stated, "Hyundai is uniquely positioned to win through our unmatched combination of compelling products." This spirit truly reflects how the brand has reached new heights and continues to expand rapidly worldwide.
