Hyundai Motor Group to invest USD 15.5 billion in India by 2032
Hyundai to invest USD 15.5 billion in India by 2032. Representational image.
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South Korean automaker Hyundai Motor Group on Tuesday said it will invest USD 15.5 billion in India by 2032, positioning the country as a key driver for future growth, according to news agency PTI.
The seven-year investment plan includes manufacturing expansion, research and development (R&D) infrastructure development, local supplier cultivation for parts localisation and future technology innovation.
Hyundai Motor Group’s Executive Chair Euisun Chung met Prime Minister Narendra Modi to discuss India’s automotive industry future and long-term growth strategy, the company said in a statement.
“The initiative was discussed during a meeting between Indian Prime Minister Narendra Modi and Hyundai Motor Group Executive Chair Euisun Chung at the Prime Minister’s Office in New Delhi on October 13, 2026, reflecting the Group’s commitment to strengthening its presence in India and contributing to the automotive sector’s growth,” it said.
Hyundai to set up a dedicated investment entity
Hyundai Motor Group will establish a dedicated investment entity in India, which will systematically coordinate and execute investments across R&D infrastructure, future technologies and the broader automotive industry ecosystem. Besides, it will also help to identify local partners, support strategic partnerships and foster collaboration with local suppliers.
“India remains one of Hyundai Motor Group’s most important and strategic markets globally. The past 30 years have been defined by our commitment to India. This investment reaffirms our commitment to India for the next 30 years and beyond. Through this investment, we will create more employment opportunities and work together with our partners and stakeholders to support India’s continued industrial development,” said Euisun Chung, Executive Chair, Hyundai Motor Group.
Hyundai Motor Group, which employs more than 24,000 people across India, said the proposed investment is expected to create employment opportunities across manufacturing, R&D, engineering, and supply chain sectors.
Investment in Research and Development
The automaker will invest in R&D Infrastructure and Technology, with plans to establish a complete R&D system in India through infrastructure expansion and local talent cultivation. It also aims to enhance technological competitiveness through the Group’s R&D centre in India.
“With approximately USD 700 million investment planned in the R&D centre, including its vehicle testing track, the Group will accelerate next-generation automotive technology development and establish India as a core innovation hub,” it said.
Manufacturing expansion
The Group will build a comprehensive automotive ecosystem in key areas, including manufacturing expansion, and plans to expand production capacity across Hyundai Motor India and Kia India to support significant volume growth. It added that localisation will be the key to meet India’s market demands.
The manufacturing expansion will also position India as an export hub for the firm.
Besides, it will strengthen the local supply chain and support supplier development in India through strategic investments in regional partners, which will enhance parts localisation, and build a stable, resilient supply-chain ecosystem across the Indian automotive industry.
“The Group aims to lead India’s future mobility ecosystem through strategic investments in emerging opportunities. This includes support for high-potential startups and expansion into new mobility services integrated with its core vehicle business,” it said.
Moreover, it will also explore opportunities in new business verticals, including specialised automotive financing, EV charging infrastructure, and end-of-life vehicle recycling, according to PTI.
(With inputs from PTI)
Source: www.mid-day.com