Hyundai recognizes that its Indian operations will be pivotal in reaching the ambitious goal of selling two million electric vehicles (EVs) worldwide by 2030. During a recent town hall meeting held at Hyundai Motor India’s headquarters in Gurugram, José Muñoz, President & CEO of Hyundai Motor Company (HMC), emphasized that India will be instrumental in achieving this global target.

To facilitate this objective, the global organization will continue to provide support to Hyundai Motor India in expanding its EV portfolio and investing in the essential infrastructure required for this transition. Muñoz also highlighted that Hyundai Motor India aims to enhance the accessibility of EVs, ensuring they meet the specific needs of Indian consumers, in line with the country's commitment to sustainable and eco-friendly transportation solutions.

Previously, Unsoo Kim, Managing Director of Hyundai Motor India, indicated that the company is seeking to diversify its export markets, particularly as it faces challenges related to shipments to areas such as the Middle East due to geopolitical tensions in the Red Sea and other regions. He noted that the company is positioning itself as a production hub for emerging markets, stating, “We are manufacturing and exporting our cost-optimized vehicles to these markets.”

Last year, Hyundai Motor Group announced plans for Hyundai Motor India to introduce a total of five EV models by 2030, including the recently launched Hyundai Creta Electric. By that time, HMG anticipates significant growth in the EV sector. In preparation for this shift, Hyundai is concentrating on developing EVs tailored to local markets, with the aim of establishing itself as a leading global brand in the electric vehicle industry.

Growing role of India for Hyundai

Since its entry into the Indian market in 1996, the Indian division of the Korean automaker has become the third largest market within Hyundai's global framework. Additionally, Muñoz noted that the initial public offering (IPO) of Hyundai Motor India has facilitated investments and the expansion of new product lines and production capabilities in India.

Hyundai Motor India Limited (HMIL) has established itself as a premier automotive manufacturing and regional export center, playing a crucial role in Hyundai's global strategy. To address the increasing demand for vehicles, the new manufacturing facility being developed in Talegaon, Maharashtra, is expected to significantly enhance local production capabilities.

This facility will not only cater to domestic needs but will also establish HMIL as a key player in global manufacturing. "In 2026, HMIL will commemorate 30 years of successful operations, reinforcing Hyundai's commitment to the Indian market. I am optimistic that HMIL will continue to achieve new milestones and set industry standards," stated the President of Hyundai.

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