September 15, 2008

Hyundai Motor India Planning to Make India Export Hub for Small Car

Hyundai Motor India Limited (HMIL) has recently celebrated its 10th anniversary of starting operations in India. Within 10 years, the South Korean auto giant has already been the second largest passenger car manufacturer in India after Maruti Suzuki. However, in terms of number of sales units exported to other counties, Hyundai India has become the largest exporter of car in India.

Now, Hyundai Motor is planning to make India its export hub for small cars after experiencing huge success thanks to its hatchback new compact car model, Hyundai i10. After i10, the company is now coming up with i20 by the end of this year.

The Hindu reported:

“We will be rolling out the ‘i20’ by this year-end that would be manufactured exclusively in India and exported worldwide. We have decided to make India our global export hub for small cars,” said HMIL Managing Director H. S. Lheem while kick-starting the 10th anniversary celebrations of Hyundai’s operations in India.

Hyundai i10 is manufactured in India and is currently exported to 96 various countries across the world. Reports have it that Hyundai India is also seriously contemplating to get into US car market with a domestically manufactured product. Since the launch of Hyundai i10, the company has seen excellent response both in the domestic as well as in the abroad market. Now, i20 is also expected to make a huge mark in its export volume from India.

Now, Hyundai is interested to make India its export hub, considering the cheap labor as well as less production cost. Thus, Hyundai India can easily compete with other competitor companies in different markets in the world. Recently, Hyundai i10 will start third shift at Chennai manufacturing plant. Earlier in February, Hyundai Motor India Ltd started its second plant in China, taking the sales volume to 600,000 units. Naturally, Hyundai Motor has found India as its export hub for small cars.