Synopsis
Hyundai plans to utilize India as a manufacturing hub to achieve its goal of selling 2 million electric vehicles globally by 2030. This initiative is backed by the company’s president, Jose Munoz, during a town hall meeting with HMIL employees.Key Takeaways
- Hyundai aims for 2 million EV sales by 2030.
- New factory in Talegaon, Maharashtra, to boost production.
- HMIL targets 1.1 million vehicles annual capacity.
- Focus on local manufacturing and sustainability.
- India is Hyundai's third-largest market globally.
New Delhi, March 5 (NationPress) India is set to be a pivotal manufacturing center in realizing Hyundai Motor Company's goal of selling 2 million electric vehicles in the worldwide market by 2030, as stated by the company’s president and CEO Jose Munoz.
During a town hall event with Hyundai Motor India employees at the company’s headquarters in Gurugram, located on the outskirts of Delhi, he indicated that the upcoming factory in Talegaon, Maharashtra, would not only satisfy domestic demand but also establish HMIL as a global manufacturing center.
Once fully operational, HMIL aims for an annual production capacity of 1.1 million vehicles at the Talegaon facility. Hyundai Motor Corporation will continue supporting HMIL’s efforts to enhance its EV lineup and invest in necessary infrastructure to facilitate this transition.
To address the increasing vehicle demand, the new manufacturing plant in Talegaon will be crucial in enhancing local manufacturing capabilities. HMIL is committed to making electric vehicles more accessible and tailored to the preferences of Indian consumers, aligning with the country's initiative for green and eco-friendly mobility solutions.
Munoz remarked, “India stands as the third-largest market in Hyundai’s global operations. HMIL’s IPO has enabled HMC to invest and broaden its product range and production capacity in India. HMIL has evolved into a world-class automotive manufacturing and export hub, playing a vital role in Hyundai’s global vision.”
In a statement, HMIL highlighted, “Muñoz’s visit reinforced HMC’s dedication to HMIL while shedding light on overarching strategic objectives, exploring new prospects, and nurturing a culture of collaboration, innovation, and excellence. He also stressed the significance of Hyundai’s customer-centric approach and achieving the highest standards of quality and customer service to ensure sustainable success in a rapidly changing business landscape.
He reaffirmed HMC’s steadfast commitment to supporting HMIL’s mission in India by actively contributing to the development of a ‘Viksit Bharat’, the statement noted.
