Hyundai is gearing up to launch nine new models in the Indian car market in next three years and the South Korean auto manufacturer will invest around Rs. 6,500 crore for the development of these products. Also, in order to increase the market share, Hyundai is planning to increase its domestic production capacity by 50,000 by next year. Increased production capacity will ensure lesser waiting period for Hyundai cars and it will also help the brand to post more sales.
In next decade, Hyundai could roll out a million units every year. Meanwhile, the increased production capacity could also help the brand to make space for its upcoming models. The car manufacturer’s upcoming model includes an electric powered sedan or an electric SUV. Hyundai will import the charging kits for this model from Korea.
Currently, the second largest automaker in the Indian market, Hyundai is planning to bring the models like Kona, new Santro, Carlino concept-based SUV, Creta facelift etc. So far, the brand is clearly trying to increase its stake in different segments of the Indian car market. Apart from the conventional fuel powered models, Hyundai is also keen to take a strong spot in the Indian EV market. The brand is aiming to launch its first electric car in the country in 2019.
Considering Hyundai’s EV strategy, we can assume the Kona EV could be launched here next year. Interestingly, Hyundai’s subsidiary Kia too is all set to enter the Indian market soon. Kia has already showcased a wide range of products at the 2018 Delhi Auto Expo and a large number of them would make their way into the Indian market.