Hyundai Motor Group Chairman Euisun Chung met with Indian Prime Minister Narendra Modi in New Delhi, outlining the group's investment plans and strategies for its operations in India.
Key points
•Hyundai Group to Invest $15.5 Billion in India
•Long-term Investment Plan Includes New Factory Construction, R&D Enhancement
•Focus on Electric Vehicle Charging Infrastructure and Social Responsibility
At a meeting in New Delhi, Hyundai Motor Group Chairman Euisun Chung discussed the company’s business status and long-term investment plans in India with Prime Minister Narendra Modi. The discussions included a $15.5 billion investment plan over seven years, focusing on new factory construction, R&D enhancement, and strengthening local supply chain competitiveness.
The investment will also involve establishing an investment subsidiary within India to support the group’s future growth and expansion into emerging markets. This move is expected to bolster Hyundai's presence in the world's second-largest automotive market, where it currently holds the second-largest sales record among foreign automakers with a domestic market of 1.47 billion people.
Hyundai Group plans to explore opportunities for electric vehicle charging infrastructure and recycling of old vehicles while maintaining its focus on social responsibility initiatives such as supporting disabled individuals and educating future generations.
