Korean automaker Hyundai has inaugurated a new plant in Pune, Maharashtra, India, marking its 30th anniversary in the country and setting up a base for future growth.
Key points
•Hyundai unveils new plant in Pune
•Production capacity expansion planned for 2030
•Launching compact SUV and planning electric vehicle launch
On January 14 (local time), Hyundai held the inauguration ceremony of the new factory in Pune to celebrate 30 years of its presence in India. Key executives including President Euisun Chung and Vice President Jaehoon Jang attended the event. The plant, acquired from GM during the pandemic, is being restructured as a smart manufacturing hub.
With an initial production capacity of 170,000 units per year, the new factory plans to expand its capacity to 320,000 by 2030. Together with the Chennai plant, Hyundai will have nearly 1 million annual production capacity in India.
To meet India’s EV promotion goals and local electric vehicle market demands, the new factory is producing the compact SUV 'All New Venue' and plans to launch a small electric SUV next year. The company also intends to maintain its technological edge by investing in R&D and localizing components.
