Hyundai Motor India is all set to roll out low-cost car in the Indian car market. The company will be developing the low-cost car in India with major support from its research facility in Hyderabad for design and technical analysis.
The low-cost car is expected to be cheaper than Hyundai Santro which carries the price tag of Rs. 2.65 lakh ex-showroom Delhi and the new car will fall into the price range between Rs. 1, 80,000 to Rs. 2, 25,000. This will give a good competition to the Tata Nano and other worldwide car companies like Fiat, Toyota, Renault-Bajaj, General Motors and Volkswagen.
According to Hyundai Motor India Managing Director and CEO, HS Lheem, “We are stern about the micro-car market and from April this year we have undertaken an enormous possibility to study and understand the Indian customers’ mind-driving conditions, styling cues and technical specs—for the proposed small car.”
Hyundai wants to make a remarkable pace in the market and is now firm to make India its small car-manufacturing hub, and has moved its small car R&D to its Hyderabad centre.