Hyundai’s $15.5bn India expansion targets EVs, research and supply chains

Hyundai Motor Group will invest $15.5bn in India by 2032, expanding manufacturing, research, electrification and local supply chains as competition intensifies.

Hyundai Motor Group has said it will invest $15.5 billion in India between 2026 and 2032, a move that underlines how central the market has become to the South Korean carmaker’s long-term strategy. According to multiple reports, the plan was discussed when executive chair Euisun Chung met Prime Minister Narendra Modi in New Delhi, with the group framing India not just as a sales market but as a base for manufacturing, research and supply-chain expansion. (ajupress.com)

The investment is expected to extend beyond assembly lines. Reporting by Aju Press and other outlets said about $700 million will be directed towards a new research and development centre, together with a dedicated test track, while further spending is likely to support electrification, charging infrastructure and recycling systems. Seoul Economic Daily reported that Hyundai is also looking to widen its India footprint into related future technologies and local supplier development, suggesting a broader industrial build-out rather than a narrow capacity increase. (ajupress.com)

The scale of the programme reflects both opportunity and competitive pressure. Hyundai and Kia already produce more than 1.4 million vehicles a year from their Indian facilities in Chennai, Pune and Anantapur, and the group employs more than 24,000 people there, according to the company’s publicly reported figures cited in the coverage. Hyundai has been seeking to deepen local manufacturing as India raises its profile in global car production and as tariffs make imported vehicles less attractive to buyers. Industry reports also indicate that the company wants a stronger position in electric vehicles, where domestic rivals and global brands are competing aggressively for market share. (m.economictimes.com)