Hyundai Motor Corporation has plans to roll out a low-priced car in India. The new car will be priced as low as $5,000.
This low-priced car will be launched in the markets of other developing countries. The car will be manufactured in India and will be exported to other nations.
According to Lheem Heung-soo, Chief Executive of Hyundai Motor India Ltd, the car will be powered by an 800cc engine and will be manufactured at Hyundai India’s production plant near Chennai. The car will come with a price tag of $5,000-$6,000. However, there is still a long way to go for the car to go in production.
This small car from Hyundai will be pitted against the Tata Nano car which is at present, the cheapest car of the world.
Hyundai is India’s second largest car maker. It has introduced a facelifted version of the Santro in the Indian market recently. The Santro has been Hyundai’s flagship model in India since its debut in 1998.