Hyundai Motor India unveils $5.1b growth road map to 2030

Hyundai Motor India, the Indian arm of South Korea’s Hyundai Motor Co., held its first-ever investor meeting on Wednesday to outline an ambitious growth strategy through 2030.

The company aims to achieve $11 billion in sales while maintaining high profit margins.

Hyundai's Global President and CEO Jose Munoz announced that Hyundai would invest $5.1 billion in India by 2030, underscoring the country’s role as a “strategic priority” in the automaker’s global operations.

He said Hyundai plans to make India a key global export hub, targeting 30 percent of its total exports to come from India, in alignment with the Indian government’s “Make in India” initiative to promote local manufacturing.

Under the new plan, the Indian unit will introduce 26 new models, including seven all-new vehicles. The lineup will feature India’s first fully domestically produced electric SUV, set to debut in 2027, and the introduction of Hyundai’s luxury brand, Genesis.

To boost investor confidence, the company also pledged to distribute dividends in the range of 20 to 40 percent.

Tarun Garg, the chief operating officer of Hyundai Motor India, said the road map was designed to position the automaker for long-term leadership in India’s fast-growing market. Hyundai aims to capture more than 15 percent of the domestic car market by 2030, with sport utility vehicles accounting for over 80 percent of total sales.

As part of its “inclusive growth” strategy, the company plans to expand its sales and service network to cover 85 percent of India’s districts by 2030, with rural markets projected to contribute about 30 percent of total sales.

Hyundai Motor India also announced that Tarun Garg would succeed Kim Un-soo as managing director and CEO on Jan. 1.