Hyundai's Ambitious Plan for India

Korean automaker Hyundai is set to revolutionize the Indian automotive market with an ambitious plan to launch 26 new cars over the next five years. This move is aimed at strengthening its market share amidst fierce competition from local giants Mahindra & Mahindra and Tata Motors.

Investment and Product Diversity

With an investment of Rs 7,000 crore this year, Hyundai plans to introduce a diverse range of vehicles, including 20 internal combustion engine (ICE) cars, six electric vehicles (EVs), and strong hybrid variants. COO Tarun Gard emphasized the company's focus on balancing volume market share and profits, avoiding the 'discount war'.

Focus on SUVs and Electrics

SUVs will be a major focus for Hyundai, with eight models expected by FY27. The company is also aggressively working on expanding its fast-charge network and increasing localization for its EV lineup, including the Ioniq and Creta EVs.

Market Performance and Outlook

Despite a slight decline in domestic sales to around six lakh units last fiscal, Hyundai reported healthy operating margins of 14.1% in the Jan-Mar '25 quarter. The company remains cautiously optimistic about domestic demand, aiming for 7-8% growth in exports amidst geopolitical uncertainties.