Hyundai has decided to up the ante in India and will pump in fresh investments of over Rs.5,000 crore by 2020 to drive in new products, including new Santro and a compact SUV , which will compete with Maruti's Brezza and Ford's Eco Sport.
The Korean car major finished 2016 with sales of nearly 5 lakh units in India, and has decided to drive in eight products by 2020, including three new cars, while others will be upgrades and refreshments.
The country's second-largest car maker behind Maruti Suzuki entered India in 1996 and has 17% market share. So far, it invested around $3.2 billion and has manufacturing capacity of about 7 lakh units per annum at its Chennai plant.
Koo said Hyundai wants to focus aggressively on “volume products“-the philosophy behind the reintroduction of the Santro. The new Santro will hit the market in the second half of next year. It will sport two petrol engines -1.1-litre and 1.2-litre -and will be positioned between Eon mini and Grand i10.
The new Santro may sport a different name in its second avatar. It is being developed by Hyundai's global R&D team in coordination with the India centre at Hyderabad.
The company will drive in the petrol-electric hybrid `Ioniq' at the beginning of next year. This will be the company's attempt to introduce environment-conscious cars. The mini SUV will enter India in first half of 2019. It will be positioned under Creta off-roader and its length will be under 4 metres as the company wants to avail of lower manufacturing duty.
The Korean car major finished 2016 with sales of nearly 5 lakh units in India, and has decided to drive in eight products by 2020, including three new cars, while others will be upgrades and refreshments.
The country's second-largest car maker behind Maruti Suzuki entered India in 1996 and has 17% market share. So far, it invested around $3.2 billion and has manufacturing capacity of about 7 lakh units per annum at its Chennai plant.
Koo said Hyundai wants to focus aggressively on “volume products“-the philosophy behind the reintroduction of the Santro. The new Santro will hit the market in the second half of next year. It will sport two petrol engines -1.1-litre and 1.2-litre -and will be positioned between Eon mini and Grand i10.
The new Santro may sport a different name in its second avatar. It is being developed by Hyundai's global R&D team in coordination with the India centre at Hyderabad.
The company will drive in the petrol-electric hybrid `Ioniq' at the beginning of next year. This will be the company's attempt to introduce environment-conscious cars. The mini SUV will enter India in first half of 2019. It will be positioned under Creta off-roader and its length will be under 4 metres as the company wants to avail of lower manufacturing duty.
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