Hyundai Motor announces an expansion of its annual production capacity to 1.5 million vehicle units for Hyundai Motor India (HMIL) and Kia India combined. The carmaker confirms plans to introduce its first locally produced EV in India next year, with mass production slated to begin at the Chennai plant by the end of 2024. Five additional EV models will be produced by 2030. The move follows Hyundai Motor Group executive chair Euisun Chung’s visit to India to review future mobility strategies, coinciding with HMIL’s anticipated IPO launch to raise over $3 billion. HMIL aims to establish India as a global export hub and strengthen its SUV sales leadership, while expanding charging infrastructure to accelerate EV adoption.
Hyundai Expands Production Capacity, Unveils Plans for Local EV Production in India
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