Hyundai Motor India Ltd plans to set up a research and development centre in Hyderabad.
After launching Hyundai's VERNA CRDi SX in Hyderabad on Thursday, HMIL managing director H S Lheem said the state government has offered land for this purpose.
The company will launch its various developmental wings from this centre in future, he said.
Last year, HMIL registered total sales of 2,99,513 vehicles an increase of 18.5 per cent against 2005.
The car manufacturer has recorded a market share of 16.9 per cent, said Lheem.
He added the company is investing Rs 600 crore (Rs 6 billion) to expand capacity, in line with its positioning as the global exports hub for compact cars by its parent company Hyundai Motor.
HMIL also plans to set up its second plant, which will produce an additional 300,000 units per annum, raising the total production capacity to 600,000 units per annum by end of this year.
The Hyundai Verna-SX is priced between Rs 7,96,534 and Rs 8,18,518 and available in both petrol and diesel versions.
