Hyundai Motor Group plans $15.5 billion investment in India through 2032
In short
Hyundai Motor Group plans to invest about $15.5 billion in India over seven years through 2032, expanding production, research and development and local supply chains. Chairman Chung Eui-sun discussed the plan with Prime Minister Narendra Modi in New Delhi on October 13.
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Hyundai Motor Group plans to invest about $15.5 billion in India over seven years through 2032, expanding production capacity, research and development, local supply chains and new technologies. The group said on October 14 that chairman Chung Eui-sun had discussed its local growth strategy and the investment plan with Prime Minister Narendra Modi in New Delhi the previous day. [ 2 , 6 , 7 ]
The group intends to establish a specialised investment company in India to identify, coordinate and execute investment projects. Its role would include research infrastructure, future technologies and strategic investments in local partners. Hyundai also plans to expand local research facilities and recruit talent to develop products and technologies tailored to Indian customers. It is working with TVS Motor Company on an electric three-wheeler prototype, with commercialisation targeted for late 2027. [ 9 , 10 ]
Chung said the Pune plant had enabled the group to establish an annual production system of 1.4 million vehicles in India. He said stable production would allow it to respond to local market growth and expand exports to emerging markets. India is the world's third-largest car market after China and the United States. Hyundai and Kia together sold 852,164 vehicles there last year, giving the group an 18.7% market share. [ 6 , 7 ]
Kyunghyang Shinmun reported that Hyundai inaugurated its Pune plant on October 14 and plans to raise the plant's annual capacity from an initial 170,000 vehicles to 320,000 by 2030. The newspaper also highlighted weaker local sales: citing Autocar Pro, it said Hyundai sold 584,906 vehicles in India's 2025 fiscal year, from April 2025 to March 2026, down 2.3%, and fell behind Mahindra and Tata to fourth place. It noted that the group's second-place market ranking includes Kia sales. [ 17 ]
Why it matters
The group intends to use India as a base for growth in the local car market and exports to emerging markets. Kyunghyang Shinmun reports that Hyundai's domestic sales ranking has fallen to fourth, making recovery of local market share a challenge alongside production expansion.
Key facts
- Hyundai Motor Group plans about $15.5 billion of investment in India through 2032. [ 2 , 6 , 10 ]
- Chung Eui-sun met Narendra Modi in New Delhi on October 13. [ 2 , 4 , 7 ]
- Investment will cover production facilities, research and development, local supply chains and new technologies. [ 6 , 7 , 10 ]
- The group plans a specialised investment company in India to coordinate and execute investments. [ 6 , 9 , 10 ]
- Hyundai held an inauguration ceremony for its Pune plant on October 14. [ 17 ]
Confirmed by several sources
Still unclear
- The timetable for creating the specialised investment company. The reports describe the plan but give no establishment date.