South Korea’s Hyundai Motor Group is expected to focus on India as it moves forward to expand its global presence.

“Hyundai Motor India has been pivotal in driving the growth of the Hyundai Motor Group, having navigated through numerous challenges including the Covid-19 pandemic, global economic crises, and supply chain disruptions due to semiconductor shortages,” said Euisun Chung, executive chair of Hyundai Motor Group. “We take pride in consistently securing the second-largest market share in this vibrant market and will continue to elevate Hyundai as a premium brand.”

Chung’s remarks were made during a town hall meeting with over 3,000 employees in India on Tuesday.

During his visit, Chung underscored India‘s significance as one of the primary drivers of the automaker’s growth.

“India is among the fastest-growing economies globally, and as this growth continues the strategic importance of Hyundai Motor India will only increase,” he said. “By leveraging our strong reputation and competitive quality in India, we aim to expand exports to neighboring countries, making India the global export hub to boost our regional market competitiveness.”

According to the auto giant, Hyundai Motor Group aims to establish a production system capable of churning out 1.5 million units by 2025 ? 1 million vehicles for Hyundai Motor Co. and 500,000 vehicles for Kia Corp.



In 2023, Hyundai Motor and Kia manufactured 1.08 million vehicles in India, which outnumbered the vehicles they manufactured in the United States and China.

For Hyundai Motor Group, the rapid growth of India‘s automotive sector has propelled the country to the forefront of its overseas operations.

According to data from the Society of Indian Automobile Manufacturers (SIAM), India witnessed an unparalleled growth rate of nearly 70 percent in annual auto demand compared to 2020, dwarfing the approximately 3 percent growth in the U.S. and 15 percent in China over the same period.

India is also witnessing rapid strides in electrification, with the government setting ambitious targets to increase electric vehicle (EV) sales to 30 percent of total vehicle sales by 2030.

In response, Hyundai Motor Group is poised to introduce five EV models produced in its India plant by 2030.

By Park So-ra and Han Yubin

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