Hyundai Motors, which plans to build India as a major export base, is actively looking for new partners in India and expects to make breakthroughs in the field of heavy commercial vehicles.
The Economic Times of India reported that Hyundai Motor has conducted a feasibility study on the production of light commercial vehicles in India, but due to cost and other issues, it eventually turned to consider heavy commercial vehicle projects. Once the project is opened, modern trucks and buses will Achieve independent production outside Korea. Heung Soo Lheem, head of Hyundai Motor's India operations, said that it is possible to partner with partners for technical cooperation or modern heavy-duty chassis.
Recently, Hyundai Motors stated that it will invest a total of 1.47 billion U.S. dollars in India to build a second automobile production plant and a fifth R&D center. By 2010, Hyundai Motor plans to add 1,000 new employees in India.
Hyundai Motor hopes to double its production capacity in India to 600,000 vehicles in the next year and occupy more than 20% of the market. At the same time, Hyundai’s recently launched i10 compact sedan in India will be produced locally in India and will be sold locally as well as in European and American markets. The car will be exported to 75 countries.