Hyundai Motor India Ltd., India’s second largest automaker is moving high in the Indian market. And with the aspirations riding high, the carmaker has aimed to sale about 6,50,000 units in 2013. Hyundai is also planning to reveal its engine plant that will be capable of manufacturing both diesel and petrol engine with an investment of about $300 million by the end of this year.
According to Director of Finance and corporate affairs, Mr. R. Sethuraman, last year Hyundai India has signed a deal with the government of Tamil Nadu to invest Rs. 4,000 crore. He said that the amount will be mainly be concentrated around the engine plant and will be spent over a time span of seven years.
Speaking on the same MD, Bo Shim Seo said that the 650,000 units of sale target will also comprise of about 410,000 units from the domestic market. He also said that with the development of the flexible engine facility with the capacity of 300,000 units, Hyundai will be able to manufacture diesel cars with the same pace.
He further stated that by accommodating the domestic car market new NCR, company is not feeling to start a new plant in north west part of the country. Hyundai can handle the increased capacity of about 700,000 units in its Tamil Nadu plant itself. It is also being heard that company is focusing primarily on the domestic market and the other plants will be responsible for handling exports.