Hyundai's Strategic Expansion: A New Era in EV and Capacity Growth

Hyundai Motor India plans a Rs 6,000 crore expansion, adding significant capacity at Pune's Talegaon facility. This move targets increased market share in both traditional and EV sectors. The strategy involves significant localization and expansion in the SUV segment to enhance global competitiveness.

Hyundai Motor India announced its strategic capacity expansion at the Talegaon manufacturing facility with a Rs 6,000 crore investment. This expansion aims to boost the company's growth potential in both domestic and international markets.

The additional production capacity will be phased, increasing by 2,50,000 units, thereby enhancing the company's flexibility in serving varied markets. Hyundai's COO, Tarun Garg, emphasized the company's balanced approach towards growth, profitability, and market share. He also highlighted the company's swift adaptation to the growing electric vehicle (EV) market.

Garg noted the forthcoming launch of the Creta electric model, alongside three other EV models, signaling Hyundai's ambitious vision for electrification. Enhanced localization, including battery and component production, is central to this strategy, equipping Hyundai to lead in the electrification tide and expand its SUV market share.

(With inputs from agencies.)