Hyundai to Invest Rs 45,000 Crore in India by FY2030

Hyundai Motor India on Wednesday presented its roadmap including India-centric product expansion plans, manufacturing, localisation and financial guidance to support its growth trajectory through FY2030.

José Muñoz, President and CEO, Hyundai Motor Company, said, “Following our landmark IPO last year and 29 years of success in India, now Hyundai Motor India plans an investment of Rs 45,000 crores through FY2030 to drive the next phase of growth. India is a strategic priority in Hyundai’s global growth vision. By 2030, India will be our second-largest region globally, aligned with Prime Minister Narendra Modi's vision of ‘Make in India.’ We're making India a global export hub, targeting upto 30% export contribution.”

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Muñoz further reiterated the company’s commitment: 26 product launches including seven new nameplates. Moreover, he confirmed the launch of the company’s luxury brand, Genesis by 2027 in India. In addition to that, he stated that India's first locally manufactured dedicated electric SUV is also set to launch by 2027.

Unsoo Kim, Managing Director, Hyundai Motor India, said, “Our investment plans reflect Hyundai Motor India’s expansion and our vision to deliver smart mobility solutions enriched with world-class products and cutting-edge technologies for India’s aspiring and fast growing customer base.”

Kim highlighted that the company is targeting a revenue milestone of Rs 1 lakh crore by FY2030. Additionally, the company intends to sustain strong double-digit EBITDA margins.

Tarun Garg, Whole-time Director and COO, Hyundai Motor India, added, “This transformative 2030 roadmap serves as a pivotal catalyst in Hyundai India’s growth trajectory, propelling us to new heights through well-aided strategic initiatives. As we chart our course through this transformative evolution, Hyundai Motor India sets out a target to achieve more than 15% market share in domestic market underpinned by India-centric product launches. We remain steadfast to augment our presence in high-growth SUV segment driven by robust product strategy and customer centric approach, thereby, targeting over 80% UV contribution by FY2030.”

Garg emphasised the diversity of Hyundai’s offerings in India with the company intent on offering a range of powertrain options spanning ICE, CNG, EV and Hybrid technologies with more than 50% of its portfolio powered by cleaner and more sustainable technologies. Furthermore, he mentioned the company’s sales and service network will extend to 85% of India’s districts, with rural markets expected to contribute 30% of total sales by FY2030.