Hyundai has been the second-largest brand in terms of the car market share in the country for many years now. The brand enjoys a stronghold due to factors like great value-for-money products and a wide service network across the country. Hyundai has two manufacturing plants in India, with both of them set up in Tamil Nadu. Both plants have a combined annual capacity of six lakh units. The brand is planning to establish a new plant in one of the northern states of the country. In today’s article, we will look at where is the new Hyundai factory being planned to set up and what could be the possible reason behind this move. Let’s go.
Where & why is the new Hyundai factory being planned for?
Seon Kim, Managing Director, Hyundai Motors India, in a recent meeting with Haryana Chief Minister, Manohar Lal Khattar, expressed his desire to open up a new factory in the state. Hyundai has recently established its India HQ in Haryana, and the company has been looking forward to further expand its operations in the country. As mentioned above, the brand has both its factories set up in Tamil Nadu currently. Opening a new factory in the north would surely help Hyundai to enhance its distribution and connection in the states around. In the later stages, the brand might only focus on manufacturing its SUVs in Tamil Nadu plants whereas small cars could be manufactured in the new plant in Haryana. This could significantly bring down waiting periods on top-selling products like the Hyundai Creta.
What other brands have their factories set up in & around northern states?
Maruti Suzuki, India’s biggest car manufacturer, also has one of its plants set up in Manesar, Gurgaon, Haryana. Maruti sends out a total of 15,80,000 units annually from the manufacturing establishments based here. The brand even exports the Jimny from the Gurgaon facility.
What are the potential brands that could set up a base in India soon?
Tesla is already on its way to the country. The brand has been in talks with the governments of Karnataka, Maharashtra and Gujarat. Gujarat government recently offered a 1000 hectare free-of-cost land to the American automaker to set up its factory. Other than Tesla, GWM is also on its way to initiate its stint in the country.
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