Hyundai Motor Group to invest $15.5 billion in India through 2032

New Delhi: Hyundai Motor Group announced a comprehensive investment strategy for India, committing USD 15.5 billion from 2026 through 2032, underscoring the country's importance to its global growth strategy. The investment will go toward manufacturing expansion, research and development (R&D) infrastructure development, local supplier cultivation for parts localization and future technology innovation.

The group's Executive Chair Euisun Chung announced the investment during a meeting with Prime Minister Narendra Modi in New Delhi on Tuesday. "This investment reaffirms our commitment to India for the next 30 years and beyond," Chung said.

He further said, "India remains one of Hyundai Motor Group's most important and strategic markets globally. Through this investment, we will create more employment opportunities and work together with our partners and stakeholders to support India's continued industrial development."

To implement the investment plan, the group plans to establish a dedicated investment entity in India. "To effectively execute this large-scale investment initiative, the Group will establish a dedicated investment entity in India," an official statement said.

India represents one of the world's fastest-growing automotive markets and is critical for the Group's mid-to-long-term strategy. The Group has established comprehensive production capacity of more than 1.4 million vehicles annually across India, encompassing HMIL's facilities in Chennai (824,000 units capacity), HMIL's latest manufacturing facility in Pune (170,000 units capacity), and Kia India's Anantapur plant (431,000 units capacity).

Notably, Hyundai and Kia achieved combined sales of 852,164 vehicles in India last year, capturing an 18.7 percent share of the country's passenger vehicle market and securing second place behind Maruti Suzuki India Ltd. Nearly three decades after entering the Indian market, Hyundai Motor is on track to cross the 10 million cumulative sales milestone this year.

According to data from the Society of Indian Automobile Manufacturers (SIAM), the South Korean automaker reached 9.88 million cumulative sales through the third quarter of this year. Given its current trajectory, Hyundai is projected to breach the 10 million mark before the end of the year.

SUV demand continues to drive the brand's growth in India, with 398,937 units sold last year, representing nearly 70 percent of its overall domestic sales.

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