Hyundai Motors, a leading car manufacturer in the country, is now set to invest 50 million dollars over Rs 200 crore for intensifying its car production unit at Chennai in India. It is also moving ahead to make India its global hub with plans to start full-scale shipments of entirely knocked down units.
According to Hyundai Motors India, Managing Director, H S Lheem, they need to establish a completely fresh press line to meet the increasing demand of its premium hatchback ‘i10’. This investment will also support the production of the proposed Hyundai i20.
With respect to the launch of Hyundai i20 in India, the managing director of Hyundai Motors has also taken an approval from the board of the parent company situated in Korea. The company desires to export a total of 33,000 units of 'i20' by the end of this year and will further start export to countries like Australia and New Zealand to save car import duties in those markets.
Hyundai is ready to revolutionize the Indian car market with its i10 and the upcoming car, i20 that is proclaimed to launch by end of this year or early next year.