Hyundai Motors India (HMI), India’s second largest car manufacturer after Maruti-Suzuki, is currently designing new additions to its range in Korea, including a new small car that it plans to manufacture and export from facilities in Hyderabad and Chennai, India.
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“We do not have immediate plans to compete with the Nano,” said HMI managing director and CEO Heung Soo Lheem.
The new small car is expected to be launched in 2011 with a price tag of US$3,500.
“Pricing is our first priority as we want to deliver an affordable product to Indian customers,” said Lheem.
Hyundai plans to double exports of its cheapest model available in India – the Santro – to 200,000 units this year and roll out an LPG variant by August this year and a CNG variant of its Accent sedan in two months.
The 1.1-litre petrol i10 is to be replaced by a 1.2-litre version in August.
The company also recently signed an agreement with the UK’s Caparo Group to make luxury buses in India, according to Lheem.
Kevin Jacobs
