South Korean auto major Hyundai Motor Co has announced that its Indian subsidiary, Hyundai Motor India Ltd (HMIL), will invest Rs 45,000 crore by FY2030, aiming to make India its second-largest market globally, behind North America. The announcement was made by Jose Munoz, Hyundai Motor Co President & CEO, during his first visit to India.

Key highlights of Hyundai India’s 2030 roadmap

  • Revenue target: HMIL aims to increase revenues 1.5 times, crossing Rs 1 lakh crore by FY2030.
  • Exports: Up to 30% of production will be earmarked for exports, positioning India as a global export hub.
  • Product launches: 26 new products planned, including seven new nameplates, marking Hyundai’s entry into MPV and off-road SUV segments.
  • Electric vehicles: India’s first locally designed, developed, and manufactured electric SUV to be launched by 2027.
  • Luxury segment: Hyundai will introduce its Genesis brand in India by 2027.
  • Investment allocation: 60% of the Rs 45,000 crore will go into product and R&D, while the remaining 40% will be used for capacity expansion and upgradation.
  • Domestic market share: HMIL is targeting over 15% share in the Indian automotive market by FY30.
  • Utility vehicles & eco-friendly powertrains: UVs to contribute over 80% of sales; CNG, EV, and hybrid powertrains to constitute over 50% of the portfolio.
  • Network expansion: Sales and service network to cover 85% of Indian districts, with rural markets contributing 30% of total sales.

Strategic priorities

Jose Munoz highlighted India as a strategic priority in Hyundai’s global growth vision. Currently, India is Hyundai’s third-largest market, accounting for 15% of global sales. He emphasized alignment with PM Narendra Modi’s ‘Make in India’ vision and noted that the company is targeting comprehensive product offerings and strong export performance.

HMIL Managing Director Unsoo Kim added, “We aim to achieve Rs 1 lakh crore in revenues while sustaining strong double-digit EBITDA margins. We remain committed to creating long-term value for shareholders with healthy dividend payouts of 20-40%.”

Tarun Garg, HMIL MD & CEO Designate, further stated, “Our product strategy focuses on SUVs and eco-friendly powertrains. By FY30, more than 50% of our portfolio will feature cleaner, sustainable technologies.”