Hyundai Motor Company CEO Jose Munoz has said India will play an integral role in the company’s plans to sell 2 million EVs globally by 2030.
Hyundai Motor Company (HMC) president and controlling director Jose Munoz has mentioned that the Indian market will be an important part of HMC’s strategy to achieve its global target of selling 2 million electric vehicles (EVs) by 2030.
Interacting during a town hall with Hyundai Motor India Limited (HMIL) employees in Gurugram, Munoz shared the company’s roadmap to expand its electric vehicle portfolio in India and globally. India’s growing EV market presents a perfect fit for Hyundai’s green and sustainable solutions. Munoz also emphasised that opening the door to EVs and making them more convenient and tailor-made for Indian customers are some of the steps that make Hyundai’s product lineup fit for India.
Support for Expansion
HMC is helping HMIL grow its EV portfolio and also invest in the core infrastructure to enable this transition. Munoz said that as part of Hyundai’s strategy, the carmaker will not only have to invest heavily in product development and production capacity but also greatly expand charging infrastructure in the Indian market to meet the growing demand for electric vehicles designed specifically for the Indian market.
The centre’s launch is part of Kamal’s vision of creating sustainable and state-of-the-art mobility solutions for India. Wide a target and deep a reach for the automaker as well as the Indian economy, the automaker wants to play a role in both.
Key Market Status
Munoz said India is the third-largest market in Hyundai’s global business. This reflects HMIL’s growth to become one of the top players in the Indian automotive market. Hyundai’s steady performance in India continues to play an important role in its global growth strategy.
Munoz attributed HMIL’s success to adapting to market trends and consumer preferences. Thanks to its innovative strategies and customer-centric approach, HMIL deserves a considerable amount of credit for establishing itself as a key pillar in Hyundai’s Dominance over the global market.
IPO Contributions
The recent Initial public offering (IPO) of Hyundai Motor India Limited has greatly helped the investments in new product development and increased production capacity. “As a direct result of this ordinary contribution from the IPO, HMIL has been able to grow its operations and bring to market the latest in vehicles meeting the changing requirements of Indian customers,” Munoz added.
The IPO success further cements HMIL as a global standard automotive manufacturing and regional export hub. Hyundai further said that it remains committed to harnessing India’s potential to fulfil its global growth and sustainability aspirations, and this achievement is in line with the same.
New Manufacturing Facility
Hyundai is going to increase local manufacturing capabilities in India to meet access demand for vehicles. HMIL’s upcoming manufacturing facility in Talegaon, Maharashtra, was also a definite highlight for Munoz. This very facility is significant in terms of expanding production capacity and accompanying Hyundai’s EV strategy in the country.
The Talegaon plant will further enhance local manufacturing capabilities and underscore Hyundai’s commitment to the Indian market. With investment in state-of-the-art infrastructure and technology, Hyundai is seeking to consolidate its status as a frontrunner in the electric segment.
The desire to grow worldwide — Hyundai is aiming to sell 2 million electric vehicles each year by 2030 — enhances India’s significance to the automaker’s global operations. Hyundai will be well-positioned to meet the planned market for sustainable mobility solutions in India with investments in infrastructure, new products and localised production.
Some of Munoz’s vision is tied to the need for teamwork within HMC and HMIL to enable the successful operation of HMC’s EV strategy. Hyundai’s commitment to the region underlines the carmaker’s confidence in India’s potential to lead the future of electric mobility.
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