Hyundai Motor Groups top executive recently visited India and unveiled plans to strengthen the companys operations, aiming to transform the country into a pivotal export center for the South Korean automotive giant. The announcement came to light on Thursday, officially marking the strategic initiative.During the declaration, the chief emphasized Hyundai Motor Groups substantial investment plans in India over the past year, amounting to approximately 5 trillion won (USD 3.75 billion). This significant investment reflects the groups strategic focus on capitalising on Indias status as one of the worlds fastest-growing automotive markets.Euisun Chung, Executive Chairman of Hyundai Motor Group, conducted a visit to the groups Indian headquarters situated in Gurugram, Haryana, on Tuesday. During this visit, he engaged in discussions with employees about medium- to long-term strategies tailored for the Indian market.Chung also conducted a town hall meeting with around 400 employees, a notable event as it marked the first time he held such a session with employees outside the companys home country, as reported by Yonhap news agency. During the meeting, Chung elaborated on his vision to position India as Hyundais global export hub, particularly targeting expansion into African, Asian, and Middle Eastern markets.Highlighting the factors contributing to Indias growth within the group, Chung acknowledged employees dedication, customer trust, and technological proficiency. He expressed pride in the companys consistent attainment of the second position in Indias market share.Hyundai Electric VehiclesIn terms of Hyundais electric vehicle (EV) strategy, Chung affirmed the companys proactive stance in electrification, with plans for specialised EV development tailored specifically for the Indian market. He envisioned Hyundai leading Indias clean mobility sector by 2030, when EV adoption is anticipated to become mainstream.Hyundai Motor Group has a longstanding presence in India, establishing itself as one of its primary global production centres. The company initiated its Indian manufacturing operations with its first plant in 1998, followed by a second facility in 2008.Recent developments also include Hyundai Motor Groups engagement in a substantial agreement, signing a 174-megawatt power purchase agreement (PPA) with a solar energy project led by Matrix Renewables, a Spain-based company. This collaboration is aimed at providing renewable energy to Hyundais upcoming EV manufacturing facility in the United States, showcasing the companys commitment to sustainable practices and global growth.
