Hyundai India to Invest Rs450 Billion and Launch 26 New Models by 2030
Hyundai Motor India plans to invest ₹450 billion ($4.76 billion) over the next few years, aiming to launch 26 new models by 2030 as part of its broader strategy focused on electric vehicles (EVs), green powertrains and rural market expansion. The company's managing director Tarun Garg highlighted that more than half of these upcoming models will feature green powertrain technology. Hyundai is also working to localize EV production, including batteries and drivetrains, in line with India’s Production Linked Incentive (PLI) scheme introduced in 2020. The company expects rural markets to account for about 30% of total sales within three to four years, up from current levels. This expansion is supported by new models such as a midsize SUV and compact electric SUV aimed at boosting rural penetration.
Topics: automotive electric vehicles (EVs) investment plans market expansion