Oct 13 : Hyundai Motor Group said on Tuesday it would invest $15.5 billion in India through 2032, deepening its bet on the world's third-largest car market as a key driver of future growth.
The South Korean automaker's seven-year plan includes about $700 million of investment in its Indian research and development centre, expansion of production capacity and a dedicated investment entity.
India, the world's third-largest car market, is attracting billions of dollars in investment from global automakers seeking to tap rising demand and expand local manufacturing capacity, underscoring its position as a major automotive production hub.
Hyundai said last year it would invest $5 billion to expand its manufacturing and research operations in India.
Japan's Suzuki Motor , the majority owner of India's largest carmaker by volume, Maruti Suzuki, also laid out plans in 2025 to invest about $8 billion in the country.
Carmakers such as Toyota and Honda have committed to expanding their manufacturing ambitions in India as well.
Hyundai Motor, which employs more than 24,000 people in India, said the investment would create additional jobs across manufacturing, research, engineering and supply chains, but did not disclose a number.
The firm said the investment plan, covering 2026 to 2032, would expand manufacturing capacity at Hyundai Motor India and Kia India to support significant volume growth.
The investment also includes a vehicle testing track, as part of efforts to develop next-generation automotive technologies.
The investment announcement followed a meeting between Hyundai Motor Group Executive Chair Euisun Chung and Indian Prime Minister Narendra Modi in New Delhi on Tuesday.
The group currently has an annual production capacity of more than 1.4 million vehicles in India, comprising 824,000 units at Hyundai's Chennai facilities, 170,000 units at its Pune plant and 431,000 units at Kia's Anantapur facility.