Hyundai Motor Group has announced plans to invest a total of $15.5 billion in India by 2032. The 7-year expansion plan centers on investment in a research and development center and expansion of local production capacity, with an increase in local employment also expected.
South Korea’s Hyundai Motor Group announced on the 13th plans to invest a total of $15.5 billion in India by 2032. The 7-year plan includes approximately $700 million of investment in a local research and development center, expanded production capacity, and the establishment of a holding company to oversee the investments.
India is regarded as an important market because its automotive sector continues to grow, and global automakers are stepping up manufacturing investment in the country. Hyundai Motor employs more than approximately 24,000 people in India, and the investment is expected to create new jobs in manufacturing, research, engineering and supply chains.
The investment is expected to expand the production capacity of local entities Hyundai Motor India and Kia India, supporting a substantial increase in vehicle sales. Last year, Hyundai Motor also announced plans to invest approximately $5 billion in expanding its manufacturing and research and development bases in India.
In the competition for investment in the Indian market, Maruti Suzuki has disclosed plans to invest approximately $8 billion in 2025, while Toyota Motor and Honda have also announced manufacturing expansions.