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The Economic Times
The Economic Times
Business

Hyundai Motor India to hike production capacity to 1.14 mn units by 2030,boost localisation

Hyundai Motor India Tarun Garg SUV Hyundai India HMIL Automotive Industry electric vehicle

New Delhi: Hyundai Motor India Ltd (HMIL) plans to increase its annual production capacity to 1.14 million units by 2030 and raise localisation of components to 92 per cent by 2032 as it looks to strengthen its manufacturing base and tap growth opportunities in the domestic market.

The company has an installed annual production capacity of 9.94 lakh vehicles and has sold nearly 14 million vehicles from India, including 10 million in the domestic market and 4 million through exports, HMIL Managing Director & CEO Tarun Garg said at the launch of the new model, Bayon here.

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