Korean hyundai motor group announced on Tuesday that it plans to invest $15.5 billion from 2026 to 2032 in India, a market it considers core to its emerging market growth and expansion.
“India remains one of the most important and strategic markets for Hyundai Motor Group globally,” Hyundai Motor Group Executive Chairman Wisun Chong said in a release after meeting with Indian Prime Minister Narendra Modi.
He added that the investment “reaffirms” the company’s commitment to the Indian market for the next 30 years and beyond.
Hyundai said that through the seven-year plan, it will invest in expanding manufacturing, developing research and development infrastructure, cultivating local suppliers for localization of parts, and future technological innovation.
To carry out these investments, Hyundai will establish a dedicated investment company in India, it said in a statement.
Driven by strong demand, the Indian automobile market continues to break new records every month. According to data from the Indian Automobile Manufacturers Association, an industry group, passenger car sales in August reached 439,000 units, an increase of more than 36% from the same month last year and a new monthly record.
Hyundai, India’s third-largest car company, sold 247,980 cars in the country from April to August this year, according to data released last month.
Japanese car manufacturers maruti suzuki According to SIAM data, India’s Mahindra & Mahindra was the top selling vehicle in the country during that period. However, in the financial year ending March 2026, Hyundai came in fourth place, behind M&M and Tata Motors.
Hyundai produces a total of 1.4 million vehicles across India and exports vehicles from these locations.
In 2024, the Korean company listed its Indian unit. hyundai motors indiaraised $3.3 billion in the largest initial public offering in domestic history.
