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.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

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
Infrastructure Urban

BHEL shares up 3% on 10-year hydrogen fuel cell pact

Bharat Heavy Electricals (BHEL) shares rose over 3% recently after the company signed a 10-year exclusive memorandum of understanding (MoU) with Singapore-based Horizon Fuel Cell Technologies. The partnership marks BHEL’s entry into the hydrogen fuel cell market.Under the agreement, both companies will jointly develop hydrogen fuel cell-powered rolling stock and collaborate on business sharing and operations. The move is expected to strengthen BHEL’s presence in clean energy and sustainable transport.Earlier this month, BHEL also signed a License Agreement for Transfer of Technology (LAToT..

Next Story
Real Estate

Interio by Godrej Unveils Strategy to Double Revenue in 3 Years

Interio by Godrej, a leading furniture brand from the Godrej Enterprises Group, has unveiled its refreshed brand identity as a one-stop destination for modern Indian living across homes and workspaces. The repositioning is anchored on design-led innovation, an enhanced omnichannel experience, and a future-ready product portfolio. Nyrika Holkar, Executive Director, Godrej Enterprises Group, said: “Our aim is to make great design accessible. As industry leaders, we are uniquely placed to deliver on this promise with our end-to-end solutions from design and manufacturing to retail and serv..

Next Story
Equipment

Govt plans Rs 16k cr boost for construction equipment sector

The Centre is finalising an incentive package worth Rs 14,000–16,000 crore to promote domestic manufacturing of heavy construction equipment, including tunnel boring machines (TBMs), cranes and specialised rigs, reported The Economic Times. The move aims to reduce reliance on imports and support India’s infrastructure growth.Inter-ministerial discussions are underway, with the scheme expected to be launched in the next financial year. Nearly half of India’s construction and mining equipment components are currently imported, largely from China, Japan, South Korea and Germany.Industry lea..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?