Nearing its silver jubilee in India, the company foresees better days ahead with consumers readying to upgrade to newer models.
Accordingly, Hyundai Motor India’s MD & CEO S.S. Kim said the company is on track to fulfil its investment commitments in India.
“In 2019, we announced an investment target of Rs 7,000 crore from 2019 to 2024 based on those numbers we are investing and keeping up with that,” he said.
Broadly, around 40 per cent of the planned target has been met, while the rest will be invested till 2024.
The company has invested about $4 billion since its inception in India.
It has sold over 9 million units and surpassed the 3 million vehicle export milestone in 2020.
On the short-term outlook for the India market, he said: “We are cautiously optimistic, we are looking forward to returning to 2018 sales volume and Indian market has a great growth potential.”
“We can think of new…