Pune:Hyundai Motor Co., South Korea's largest carmaker, announced the completion of a new production plant in India, a significant step in its global expansion strategy. The Pune plant commenced operations with an annual production capacity of 170,000 vehicles, which is expected to increase to 320,000 by 2030.
According to Yonhap News Agency, Hyundai now operates three production facilities in India, including two in Chennai and the newly established one in Pune. Together, these plants have a combined annual production capacity of nearly 1 million vehicles.
Euisun Chung, Hyundai's Executive Chair, stated that India has been a crucial part of Hyundai Motor's global growth over the past 30 years. The new Pune plant marks another chapter for the company in the Indian market. The first model to be produced at the Pune facility will be the Venue compact sport utility vehicle (SUV), which will be available for sale in India and exported to about 30 countries.
Hyundai has introduced a variety of models in India, such as the i10 and i20 hatchbacks, the Verna subcompact sedan, the Creta SUV, the all-electric Creta EV, the Exter SUV, and the Alcazar SUV. Last year, the company sold 398,937 SUVs in India, representing approximately 70 percent of its total sales in the country.
The Pune plant was acquired from General Motors Co. in 2023, after its operations had been halted for several years due to the COVID-19 pandemic. Hyundai invested 1 trillion won (US$747 million) to convert it into its third production plant in India.