Hyundai to increase R&D investment in India for growth strategy phase two
ECONOMY & POLICY

Hyundai to increase R&D investment in India for growth strategy phase two

India is poised to become the first market outside Korea where Hyundai will be listed. As it prepares for its debut on the stock exchanges, the Korean automotive giant has outlined a plan to invest Rs 320 billion in the country over the next 8-10 years. Tarun Garg, the COO of Hyundai Motor India, expressed that the company believes this is the right time to take a significant step forward and further Indianise its operations, aiming to establish itself as a trusted brand in India.

To secure a larger share of the Indian market, Hyundai recognizes the importance of products tailored to local needs, whether developed in India or not. This strategy requires robust local engineering and research and development (R&D) operations. Sources indicate that Hyundai is planning to increase its previously announced investment of Rs 14 billion for an advanced test track in Telangana by an additional Rs 6 billion. Furthermore, the company is considering an extra Rs 2 billion investment to enhance its R&D centre in Hyderabad. However, Hyundai Motor India did not provide specific details regarding these plans. The Chief Financial Officer and Executive Director, Wangdo Hur, mentioned that the company would focus on enhancing its R&D capabilities for future growth.

On a broader scale, Garg noted that Hyundai would introduce more aggressive products, improve its R&D capabilities, and incorporate advanced technologies. The company’s approach is similar to what Maruti Suzuki India undertook a few years ago, when it established a significant Rs 38 billion R&D and engineering hub in Rohtak, Haryana.

After 26 years in the Indian market, where it began its journey with the tallboy hatchback Santro, Hyundai is intensifying its efforts in its third-largest market (after the USA and Korea). The company has expanded its production capacity in India by 30% with the acquisition of a plant in Talegaon, near Pune, capable of producing 250,000 units per annum. This expansion also provides a logistical advantage for better access to both domestic and export markets.

India is poised to become the first market outside Korea where Hyundai will be listed. As it prepares for its debut on the stock exchanges, the Korean automotive giant has outlined a plan to invest Rs 320 billion in the country over the next 8-10 years. Tarun Garg, the COO of Hyundai Motor India, expressed that the company believes this is the right time to take a significant step forward and further Indianise its operations, aiming to establish itself as a trusted brand in India. To secure a larger share of the Indian market, Hyundai recognizes the importance of products tailored to local needs, whether developed in India or not. This strategy requires robust local engineering and research and development (R&D) operations. Sources indicate that Hyundai is planning to increase its previously announced investment of Rs 14 billion for an advanced test track in Telangana by an additional Rs 6 billion. Furthermore, the company is considering an extra Rs 2 billion investment to enhance its R&D centre in Hyderabad. However, Hyundai Motor India did not provide specific details regarding these plans. The Chief Financial Officer and Executive Director, Wangdo Hur, mentioned that the company would focus on enhancing its R&D capabilities for future growth. On a broader scale, Garg noted that Hyundai would introduce more aggressive products, improve its R&D capabilities, and incorporate advanced technologies. The company’s approach is similar to what Maruti Suzuki India undertook a few years ago, when it established a significant Rs 38 billion R&D and engineering hub in Rohtak, Haryana. After 26 years in the Indian market, where it began its journey with the tallboy hatchback Santro, Hyundai is intensifying its efforts in its third-largest market (after the USA and Korea). The company has expanded its production capacity in India by 30% with the acquisition of a plant in Talegaon, near Pune, capable of producing 250,000 units per annum. This expansion also provides a logistical advantage for better access to both domestic and export markets.

Next Story
Real Estate

Dharavi Rising

Dharavi, Asia’s largest informal settlement, stands on the cusp of a historic transformation. With an ambitious urban renewal project finally taking shape, millions of residents are looking ahead with hope. But delivering a project of this scale brings immense challenges – from land acquisition to rehabilitate ineligible residents outside Dharavi and rehabilitation to infrastructure development. It also requires balancing commercial goals with deep-rooted social impact. At the helm is SVR Srinivas, IAS, CEO & Officer on Special Duty, Dharavi Redevelopment Project (DRP), Government..

Next Story
Real Estate

MLDL Records 20.4% Growth in Pre-Sales

Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, announced its financial results for the quarter ended March 31, 2025. In line with INDAS 115, the company recognises revenues using the completion of contract method. Key highlights FY25: Consolidated sales (Residential and IC&IC) of Rs 32.99 billion. Gross development value (GDV) additions in FY25 were Rs 1.81 trillion compared to Rs 440 billion in FY24 (~4x growth). Residential pre-sales of Rs 28.04 billion in FY25, reflecting 20.4% growth o..

Next Story
Infrastructure Transport

UCSL Delivers India's First Green Cargo Vessel to Norway

In a landmark achievement for Indian shipbuilding and the Atma Nirbhar Bharat initiative, Udupi Cochin Shipyard Limited (UCSL), a subsidiary of Cochin Shipyard Limited (CSL), has delivered the first of six next-generation green cargo vessels to Norway-based Wilson Ship Management AS, Europe’s largest short-sea shipping operator. The 3,800 DWT vessel, named Wilson Eco 1, was handed over during a ceremony at New Mangalore Port. The delivery is part of a Rs 5.06 billion project supported by Norway’s green maritime funding programme, marking India's entry into the European eco-friendly ca..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?