Hyundai Motor Company announces big plans for its ₹45,000 crore investment in HMIL
Arrival of Genesis is confirmed in India by 2027, expanded Hyundai product range with 26 launches taking place by FY2030
HMIL intends to make India its 2nd largest and key export hub, with a target of 30 per cent export contribution by 2030
The Korean auto-giant, Hyundai Motor Company has promised to make a hefty investment of ₹45,000 crore in Hyundai Motor India Ltd. (HMIL) and by extension in India by FY2030. The company announced some big and ambitious plans. This announcement follows the news of Tarun Garg, present Whole-time Director & COO, will be taking over as the next MD & CEO, HMIL. Here are the highlights.
HMIL has slated a total of 26 launches for India by FY2030, which will have 7 entirely new models. The brand will also introduce MPVs and Off-Road SUVs, alongside a locally manufactured electric SUV, which is already being developed.
The company will be working towards pushing its domestic market share to grow by 15 per cent, 80 per cent growth in Utility Vehicles and 50 per cent rise in eco-friendly powertrains such as CNG, EV and Hybrid by FY2030. Hyundai has finally confirmed the arrival of its luxury arm, Genesis in India by 2027. The brand will also work towards making India its 2nd largest and key export hub, with a target of 30 per cent export contribution by 2030.
HMIL will be focussing on manufacturing excellence through Software Defined Factory and drive localisation. Hyundai also projects 1.5x revenue growth and ₹1 lakh crore milestone by FY2030 with double-digit EBITDA margins alongside dividend payout guidance of 20 to 40 per cent.
Tarun Garg, Whole-time Director & COO, HMIL who himself has been announced as the next MD & CEO, said that “We are set to become one of the very few mass-market OEMs in India to offer a comprehensive range of powertrain options spanning ICE, CNG, EV and Hybrid technologies with more than 50% of our portfolio powered by cleaner and more sustainable technologies, reflecting our commitment to future-ready mobility. By FY2030, our sales and service network will extend to 85% of India’s districts, with rural markets expected to contribute 30% of total sales, underscoring our inclusive growth strategy and deepening reach across Bharat.”
This announcement makes it evident that the next two years are going to be very interesting from Hyundai Motor India Ltd. for the Indian consumers, who will witness new segments being heated up in the presence of the updated Hyundai lineup.
