Hyundai Motor India Ltd (HMIL) will become the global production base for the Santro minicar [also known in some markets as the Amica], Asia Pulse reported.
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“We intend to shift the production base of Santro from South Korea in the last quarter of 2003 and base Hyundai Motor group’s exports from India,” HMIL President B V R Subbu told Asia Pulse at the launch of the Accent Viva hatchback.
“The company will invest $US60 million every year to increase the assembly line as well as the capacity from the present level of 120,000 units to 150,000 units next fiscal and to 200,000 units between mid-2003 and 2006,” he said, according to Asia Pulse.
“We will be looking at exports of 40,000 units, mostly to Europe,” he added.
Subbu told Asia Pulse that the Santro would undergo a design change by 2004 to meet the environmental norms of 2005.
“The basic design will more or less remain the same. There is no question of changing or replacing it with a new model,” he said when asked if the Santro was in for a facelift.
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By GlobalDataSubbu told Asia Pulse that the automatic transmission variant of the Santro would be ready within the next four to six months. Though the price has not been fixed, it could cost about 8 to 10% more and production would be about 10% of HMIL’s capacity.
