<p>Hyundai Motor India Limited (HMIL), one of the largest manufacturers of cars in the country, is preparing for a new group leadership position in Electric Vehicles (EV), given that India is set to become a competitive battleground in the sector and expand its role as a hub for future mobility research, including electrification and autonomous driving. </p><p>The decisions came during the ongoing India visit of Hyundai Motor Group Executive Chair Euisun Chung, who visited the company’s R&D hub in Hyderabad and the massive manufacturing unit in Sriperumbudur. On Tuesday, he met Tamil Nadu Chief Minister M K Stalin and discussed the company’s future plans, including in the EV sector – Hyundai had in May this year pledged to invest Rs 20,000 crore in the state over a decade. </p><p>Hyundai will utilize the fresh investment to produce five new models of EVs to cater to multiple segments, setting up integrated facilities for end-to-end EV battery manufacturing base, and increasing the annual production capacity at the Irungattukottai plant to 8.5 lakh from the current 7.75 lakh.</p>.Maruti Suzuki, Hyundai record single-digit sales growth in July.<p>“The dialogue encompassed Hyundai's ongoing and upcoming investments in our State, especially in the EV space, potential collaborations in R&D and advanced technologies,” Stalin said. </p><p>“With a steadfast presence of over 25 years, Hyundai Motor has propelled remarkable manufacturing and export achievements, etching an indelible mark in Tamil Nadu's automotive success story. We will continue and expand this great partnership,” the CM added. </p><p>In a press release, Hyundai said in addition to strengthening local R&D capabilities, the company will expand its role as a hub for future mobility research, including electrification, autonomous driving, and development of voice recognition technology in local Indian languages. To this end, construction of a new test facility began last year. </p><p>“Executive Chair Chung stressed that in order to establish a position as the first mover, it is crucial to deliver products that exceed customer expectations in a timely manner and that HMIE should be a driving force for the group’s growth in the Indian market,” the statement added. </p><p>In Sriperumbudur, the top executive discussed with employees mid-to long-term development plans for production and sales and stressed on the reorganization of the automotive value chain in the works, with a focus on India.</p><p>India is one of the world’s most promising automotive markets with the world’s largest population, with 4.76 million new vehicles sold last year behind China and the US. The passenger car market accounted for 3.8 million units and is expected to exceed 5 million units by 2030. </p><p>“Executive Chair Chung’s visit to India included a review of the strategic importance of India as a future mobility hub. With this in mind, preparations for a new Group leadership position in EVs were also discussed given the country will be a competitive EV battleground in the years to come,” the statement added. </p><p>The statement also said Kia, a group company which has a factory in Andhra Pradesh, will produce small EVs optimized for the local market from 2025, and will then gradually offer various EV models and Purpose Built Vehicles (PBVs). The company will also develop EV charging infrastructure.</p><p>Through its ‘Kia 2.0 Strategy,’ the company aims to increase its market share in India from 6.7 percent in the first half of this year to 10 percent in the coming years. Kia plans to expand its vehicle range and more than double its sales network from the current 300, the statement added.</p>
<p>Hyundai Motor India Limited (HMIL), one of the largest manufacturers of cars in the country, is preparing for a new group leadership position in Electric Vehicles (EV), given that India is set to become a competitive battleground in the sector and expand its role as a hub for future mobility research, including electrification and autonomous driving. </p><p>The decisions came during the ongoing India visit of Hyundai Motor Group Executive Chair Euisun Chung, who visited the company’s R&D hub in Hyderabad and the massive manufacturing unit in Sriperumbudur. On Tuesday, he met Tamil Nadu Chief Minister M K Stalin and discussed the company’s future plans, including in the EV sector – Hyundai had in May this year pledged to invest Rs 20,000 crore in the state over a decade. </p><p>Hyundai will utilize the fresh investment to produce five new models of EVs to cater to multiple segments, setting up integrated facilities for end-to-end EV battery manufacturing base, and increasing the annual production capacity at the Irungattukottai plant to 8.5 lakh from the current 7.75 lakh.</p>.Maruti Suzuki, Hyundai record single-digit sales growth in July.<p>“The dialogue encompassed Hyundai's ongoing and upcoming investments in our State, especially in the EV space, potential collaborations in R&D and advanced technologies,” Stalin said. </p><p>“With a steadfast presence of over 25 years, Hyundai Motor has propelled remarkable manufacturing and export achievements, etching an indelible mark in Tamil Nadu's automotive success story. We will continue and expand this great partnership,” the CM added. </p><p>In a press release, Hyundai said in addition to strengthening local R&D capabilities, the company will expand its role as a hub for future mobility research, including electrification, autonomous driving, and development of voice recognition technology in local Indian languages. To this end, construction of a new test facility began last year. </p><p>“Executive Chair Chung stressed that in order to establish a position as the first mover, it is crucial to deliver products that exceed customer expectations in a timely manner and that HMIE should be a driving force for the group’s growth in the Indian market,” the statement added. </p><p>In Sriperumbudur, the top executive discussed with employees mid-to long-term development plans for production and sales and stressed on the reorganization of the automotive value chain in the works, with a focus on India.</p><p>India is one of the world’s most promising automotive markets with the world’s largest population, with 4.76 million new vehicles sold last year behind China and the US. The passenger car market accounted for 3.8 million units and is expected to exceed 5 million units by 2030. </p><p>“Executive Chair Chung’s visit to India included a review of the strategic importance of India as a future mobility hub. With this in mind, preparations for a new Group leadership position in EVs were also discussed given the country will be a competitive EV battleground in the years to come,” the statement added. </p><p>The statement also said Kia, a group company which has a factory in Andhra Pradesh, will produce small EVs optimized for the local market from 2025, and will then gradually offer various EV models and Purpose Built Vehicles (PBVs). The company will also develop EV charging infrastructure.</p><p>Through its ‘Kia 2.0 Strategy,’ the company aims to increase its market share in India from 6.7 percent in the first half of this year to 10 percent in the coming years. Kia plans to expand its vehicle range and more than double its sales network from the current 300, the statement added.</p>