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Hyundai Aims To Develop India Into A 'Strategic Export Hub'
Hyundai Aims To Develop India Into A 'Strategic Export Hub'
The head of South Korea's automotive giant Hyundai Motor Group has visited three key overseas markets -- China, the United States and India -- at the start of the new year as part of the group's global expansion strategy, the company said on Wednesday.
Seoul: The head of South Korea's automotive giant Hyundai Motor Group has visited three key overseas markets -- China, the United States and India -- at the start of the new year as part of the group's global expansion strategy, the company said on Wednesday.
Executive Chair Euisun Chung's visits were aimed at exploring business opportunities in major economies that are expected to underpin the group's future growth, while also seeking partnerships with leading global companies, the group said in a press release.
During his visit to India, Chung toured three production facilities -- Hyundai Motor's Chennai and Pune plants and Kia's Anantapur plant -- to review production operations and sales strategies.
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Hyundai Motor Group ranks second in the Indian automotive market with a market share of about 20 percent. The three plants have a combined annual output capacity of 1.5 million vehicles.
The group aims to develop India into a "strategic export hub" following the listing of Hyundai Motor India on the Indian stock market in 2024, which was the largest initial public offering (IPO) in the country's history.
Hyundai has been able to grow over the past three decades thanks to the support of the Indian people," Chung was quoted as saying. "We must pursue a home-brand strategy for the next 30 years so that Hyundai can become a truly national company in India.
During his 10-day trip through Tuesday, Chung attended the Korea-China Business Forum held in conjunction with President Lee Jae Myung's state visit to China, and the world's largest IT and electronics exhibition, CES 2026, in Las Vegas, and toured the group's production facilities in India, reports Yonhap news agency.
In Beijing, Chung exchanged views with Zeng Yuqun, chairman of Contemporary Amperex Technology Co. (CATL), the world's largest battery maker, on cooperation in the electric vehicle (EV) battery sector. He also met with Hou Qijun, chairman of China Petroleum & Chemical Corp. (Sinopec), to discuss potential collaboration in hydrogen-related businesses.
To boost sales in China, Hyundai Motor Co. launched its first China-dedicated EV model, the Elexio, in October and plans to expand its EV lineup in the world's largest automobile market to six models by 2030. Its smaller affiliate, Kia Corp., plans to strengthen its Chinese EV lineup by introducing at least one new model each year through 2027, following the launch of the EV6 in 2023.
At CES 2026, Chung held meetings with executives from global big-tech companies, including Nvidia Corp. CEO Jensen Huang and Qualcomm Inc. Chief Operating Officer (COO) Akash Palkhiwala.
The group unveiled its artificial intelligence (AI) and robotics strategy at the exhibition, with the presentation of Atlas, a humanoid robot developed by its U.S. subsidiary Boston Dynamics, drawing significant attention.
Source: ZeeNews
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