SUZUKI FAN

Hyundai Motor is looking at a new diesel engine plant in India and to launch one new car model in India every year

Hyundai Motor is looking at a new diesel engine plant in India with locally-sourced components to give customers a wider choice and consolidate its position as the country’s largest exporter of passenger cars.
“We concluded a feasibility study on a new diesel engine plant in India around three months ago. I think, a decision on that will be taken soon at our global headquarters after due consultations with our executives in India,” a senior official here said.
“It would cost around $550 million to set up a diesel engine plant with an annual capacity of 300,000 units,” the official said on condition of anonymity, as internal rules did not permit him to speak to the media.
The momentum towards a diesel engine plant in India is increasing now, as Hyundai is planning to launch a diesel variant of its popular i10 model to counter emerging competition.
“We initially want to localise some critical engine components in India. Once that is done making other components like cylinder block heads is not a problem.”

Hyundai to launch one new car model in India every year

“Our plan is to introduce more than one new model every year and refurbish more than one existing model to gain market share,” the company’s managing director Han Woo Park told a group of visiting Indian journalists at the company’s headquarters here.
In addition we will expand our dealership for deeper market penetration in India,” Han said about the Indian market where the company has the capacity to produce 600,000 cars per annum from its two units in Chennai, of which a third is exported.
Hyundai claims to be India’s largest exporter of cars and second largest passenger car manufacturer after the Indo-Japanese Maruti-Suzuki. Last fiscal, the company’s Indian operations accounted for 600,588 cars — a 20.8 percent growth over the year before.
company officials said, currently exports cars to some 110 countries across EU, Africa, Middle East, Latin America, Asia and Australia. It has been the number one exporter of passenger car out of India for the sixth year in a row.

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