SEOUL, Oct. 14 (Yonhap) -- Hyundai Motor Co., South Korea's largest carmaker, said Wednesday it has completed a new plant in India, a key market in its global expansion strategy.
The Pune plant began operations Tuesday with an annual production capacity of 170,000 vehicles, which is scheduled to increase to 320,000 by 2030, the company said in a press release.
With the addition of the new facility, Hyundai now operates three production plants in India -- two in Chennai and one in Pune. The three plants have a combined annual production capacity of nearly 1 million vehicles.
"Over the past 30 years, India has been a key pillar of Hyundai Motor's global growth, and the completion of the new Pune plant will mark a new chapter for the company in India," the group's Executive Chair Euisun Chung said in the release.
The first model to be produced at the Pune plant will be the Venue compact sport utility vehicle (SUV), for sale in India and export to about 30 countries, the company said.
Over the years, Hyundai has introduced a range of models in India, including the i10 and i20 hatchbacks, the Verna subcompact sedan, the Creta SUV, the all-electric Creta EV, the Exter SUV and the Alcazar SUV.
Last year, the company sold 398,937 SUVs in India, accounting for about 70 percent of its total sales in the country.
Hyundai acquired the plant from General Motors Co. in 2023 after its operations had been suspended for years amid the COVID-19 pandemic. The company invested 1 trillion won (US$747 million) to convert the facility into its third production plant in India.
This file photo provided by Hyundai Motor Co. shows the all-new Santro minicar. (PHOTO NOT FOR SALE) (Yonhap)
kyongae.choi@yna.co.kr
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