New Delhi, Oct 15 (NationPress) - The renowned South Korean automotive manufacturer Hyundai Motor Co declared on Wednesday its intention to invest Rs 45,000 crore in India by FY30, marking a significant step in its long-term growth strategy.

The firm aspires to establish India as its second-largest market on a global scale, as per the official announcement.

During his inaugural visit to India, Hyundai Motor Co President and CEO Jose Munoz stated that this investment will facilitate upcoming product launches, enhance production capacity, and bolster research and development (R&D).

“After our landmark IPO last year and three decades of achievements in India, HMIL is now poised to invest Rs 45,000 crore through FY30 to propel the next phase of growth,” Munoz remarked at Hyundai Motor India Limited’s (HMIL) inaugural investor day.

Munoz highlighted that approximately 60 percent of the investment will be earmarked for product development and R&D, while the remaining 40 percent will focus on capacity growth and upgrades.

The automaker has also set a goal to elevate exports to 30 percent of its total production.

Under its 2030 roadmap, HMIL plans to introduce 26 new models by FY30, including seven new nameplates.

The company will venture into the MPV and off-road SUV segments and launch its first locally designed, developed, and manufactured electric SUV by 2027.

Additionally, Hyundai will introduce its luxury brand Genesis to India by 2027, according to the company.

This automaker aims to boost its revenue by 1.5 times and surpass the Rs 1 trillion mark by FY2030.

Moreover, it is targeting over 15 percent market share in the domestic market, emphasizing a significant push in utility vehicles and eco-friendly options like CNG, EVs, and hybrids.

“By 2030, HMIL will stand as our second-largest region globally,” Munoz added, noting that India currently represents 15 percent of Hyundai’s global sales.

HMIL Managing Director Unsoo Kim mentioned that the company will sustain robust double-digit EBITDA margins while generating long-term value for shareholders, with a dividend payout ranging between 20 percent and 40 percent.

HMIL CEO Designate Tarun Garg stated that by FY2030, over 80 percent of Hyundai’s sales in India will originate from SUVs, with more than half of its vehicles featuring eco-friendly powertrains.

“Our sales and service network will encompass 85 percent of India’s districts, with rural markets contributing roughly 30 percent of total sales,” Garg concluded.