Hyundai Motor chief vows full-support for India’s mobility innovation

Expanding its footing in India, the world’s third-largest automotive market, Hyundai Motor Group Executive Chair Chung Euisun met with Prime Minister Narendra Modi on Monday to explore ways to enhance cooperation and advance the country’s mobility industry.

After expressing gratitude for the Indian government’s continuous support to Hyundai Motor, Chung said during the meeting held at the PM’s office in Delhi, India, “Hyundai Motor Group has operated a successful business in India for over 28 years and has become the second-largest carmaker here.”

Chung noted, “Since our entry into India in 1996, the company has made contributions to the country’s expansion of automotive business, job creation and exports. With continuous investment, we will become India’s trustworthy partner, fully aligned with the ‘Make in India’ policy and ‘Viksit Bharat 2047’ vision.”

Chung was referring to Make in India, a governmental initiative first launched by Modi to encourage and incentivize global companies to develop, manufacture and assemble products in India. Viksit Bharat 2047 is the state-driven roadmap to transform the country into a completely developed nation by its 100th independence anniversary in 2047.

The Hyundai chief also invited Modi to the completion ceremony of Hyundai Motor’s third plant in Pune city in the western state of Maharashtra, India, which is slated for next year. The production facility was acquired from General Motors in 2023. Hyundai Motor Group is currently operating two Hyundai Motor plants in Chennai and a Kia plant in Anantapur while constructing the Pune plant.

Powered by the carmaker’s smart manufacturing system, the Pune base will start with an annual capacity of 170,000 units and expand to 250,000 units by 2028. Adding the Chennai and Anantapur plants’ increased capacity of 1.26 million units, the auto giant will be able to manufacture over 1.5 million vehicles annually in the coming years.

Chung also reaffirmed Hyundai Motor’s commitment to supporting India’s electric vehicle policies. “We will continue to introduce EV models in India and collaborate with the Indian government to build an EV ecosystem, including charging infrastructure and localization of car parts manufacturing.”

In addition, Chung highlighted the company’s diversification efforts, saying, “Hyundai Motor Group has been expanding its portfolio into areas like Urban Air Mobility and robotics, transforming into a ‘game changer’ smart mobility solutions company. We are working to create a hydrogen ecosystem, promoting carbon neutrality through clean energy solutions such as small modular reactors and fostering a circular economy through EV battery recycling and reusing resources.”

Chung also emphasized the role of the company’s technical center in Hyderabad, Telangana State, in developing a local research and development ecosystem aimed at placing India as a global hub for compact car development.

Chung and Prime Minister Modi have met several times in the past -- during Modi’s visit to Korea in 2015, at the 2016 and 2018 Korea-India Business Summits, the 2018 ‘Move Mobility Summit’ in India and a luncheon at the Blue House in 2019, where they exchanged views on the mobility industry of both nations.