Hyundai Motor to Invest KRW 20.8 Trillion in India by 2032

[Economy 365]

Hyundai Motor Group will invest 20.8 trillion won in India by 2032.

Hyundai Motor Group Executive Chair Euisun Chung met with Indian Prime Minister Narendra Modi in New Delhi to discuss investment plans and long-term growth strategies for India's automotive industry.

Hyundai Motor plans to invest USD 15.5 billion over the next seven years to expand local vehicle production facilities and build research and development facilities.

Hyundai Motor currently employs more than 24,000 workers in India and expects the latest investment to create jobs in manufacturing, research and development, and supply chain sectors.

Hyundai Motor's cumulative sales in India surpassed 9.88 million units by the third quarter of this year, with sales expected to top 10 million units within the year.

*This article was produced with AI audio.
※ Please note: This article was translated by AI and may contain errors.