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.
Go deeper with GlobalData
“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.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe 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
