Hyundai Motor India has announced plans to invest Rs 32,000 crore in the country over the next 10 years, between 2023 to 2032. This investment will be used to expand their Pune unit, with a new plant being set up to increase the company’s capacity from 824,000 to almost close to 1.1 million by 2028, representing a 30 percent increase. The company is focusing on adding capacity in the electric vehicle segments and continuing to target strategies of premiumization.
Hyundai sees the SUV segment as a significant opportunity in the Indian market. The company notes that they have a strong experience in the global market, allowing them to identify the potential for growth in the SUV segment in India. As a result, they will be investing aggressively in new products, future advanced technology, and R&D capabilities in their Indian operations. The IPO of Hyundai Motor India will provide opportunities for both local and global investors to participate in the company’s growth story.
The company also highlighted its successful rural penetration, with rural customers showing a preference for SUVs rather than small cars or hatches. Hyundai officials emphasized that their SUV contribution in rural areas is equal to that in urban areas for the January to September period. The much-awaited IPO of Hyundai Motor India will be open for subscription from October 15th to 17th, with big institutional investors having the opportunity to subscribe on October 14th. The issue price for the IPO has been fixed at Rs 1865 to Rs 1960.
Overall, Hyundai’s significant investment plans, focus on expanding capacity in the electric vehicle segment, targeting the SUV market, and emphasis on rural penetration all indicate a strong growth trajectory for the company in the Indian market. With the IPO providing an opportunity for investors to be a part of this growth story, Hyundai Motor India’s future looks promising as it continues to strengthen its presence and offerings in the country.
