South Korea’s largest car maker, Hyundai, has opened its second plant in India. With fuel prizes going up, smaller cars are making bigger business across the world. Hyundai is planning to increase its production with India as its base.
Hyundai completed inauguration of its new plant in Chennai on February 03, 2008, with as many as 1,200 people celebrating the opening ceremony of this plant in the presence of the Chief Minister of Tamil Nadu, M Karunanidhi.
Since 1999, Hyundai has held the second largest share in the Indian automobile market. In the export business of India, it tops the chart. The new facility in Chennai will mainly build the i10, Hyundai's current best-selling compact car that was rolled out in late 2007. The new plant will see the production of 250,000 units this year; Hyundai plans to sell 50 percent in India and export the remaining to other parts of the world.
Hyundai first came to India almost ten years ago and has, since then, doubled its production capacity to 600,000 units. The new plant for i10 would help Hyundai’s base in India to grow, not just to please the domestic market demand but also to meet global demands of its cars.