The Chennai facility will continue to service Indian and non-European markets. In July 2009, Hyundai India's managing director H S Lheem had said the company was planning to move production to Turkey, the Czech Republic or Slovakia.
Hyundai, the second-largest car manufacturer in the country, will stop the production of its A2 compact car, the Getz, by 2011.
Hyundai Motor India Limited head H S Lheem will meet Prime Minister Manmohan Singh on Monday to discuss issues concerning HMIL, which is the single largest Korean investor in India
Hyundai Motors India hopes to export over 250,000 cars next year from India, twice this year's number. Yet, Managing Director H S Lheem said this performance will not be without its problems. In fact, ebullient exports may end up denting the company's bottom line.
High real estate prices make the South Korean car maker look at Chennai and Hyderabad.
Hyundai Motor India Limited plans to set up its own facility at the Chennai port for parking its vehicles for shipment, a top Hyundai official said on Wednesday.
Hyundai Motor India Ltd has launched a public charitable trust to support a variety of social initiatives.
H S Lheem, president and chief executive officer of Hyundai WIA, part of the Hyundai Motor Group, announced commencement of the company's first plant in India near Sriperumbudur in Tamil Nadu, in which it's injecting a investment of $4 million.
Reversing his predecessor's decision to set up a diesel engine facility in Chennai, Hyundai Motor India's new managing director and CEO Han-Woo Park on Wednesday said as of now there was no such plan.
The company has so far sold about 15 lakh (1.5 million) units of Santro in the country. The new model under Santro Non-Ac are priced at Rs 2,63,000, while Santro GL and GLS are priced at Rs 3,28,000 and Rs 3,48,000 respectively. The LPG variant of Santro GL is priced at Rs 3,49,000, whereas the LPG variant of Santro GLS is priced at Rs 3,69,000.
India's second largest car maker, Hyundai Motor India, is planning to phase out its hatch-back Getz and focus on its other small car i20.
Hyundai Motor India also plans to raise its sales in the overseas market this year.
The company's new engine and transmission plant in Chennai, set up at an investment of $250 million, would have a capacity of 2.5 lakh units per annum. Overall, the company has invested $421 million on the Kappa project over a period of 48 months.
The country's second largest carmaker, Hyundai Motor India, on Friday said it is cutting production by 25 per cent and will work two shifts instead three from the next week following a slump in demand.
Hyundai Motor India Limited is taking the adage -- what cannot be measured cannot be controlled -- very seriously. In a move to control costs, it is implementing an innovative plan where the car-marker has incentivised every small idea to reduce the weight of the car it makes by offering Rs 100 for every gram saved in weight.
International automakers have supported the Hyundai Motor's demand for a two-year notice period before any changes are made by the Indian government with regard to excise or custom duties for the auto sector.
Hyundai Motor India on Thursday said it has crossed the half-a-million mark in cumulative exports, with the loading of its latest product the i10 at the Chennai port. The company reached the first milestone of exporting 1,00,000 cars in four years and 10 months that ended in October 2004. In October 2005, it exported its 200,000th car, followed by 300,000th car and 400,000th car in October 2006 and August 2007 respectively. Hyundai India is targeting 530,000 units this year.
Hyundai Motors India, which last year gifted 100 cars to Chennai City Police, plans to donate furniture to needy schools across Tamil Nadu as part its community development programme.
Hyundai Motor India Ltd plans to set up a research and development centre in Hyderabad.
Terming as "impossible" the Rs 1 lakh car that Tatas propose to roll out, particularly on safety aspects, Hyundai on Friday said it would like to bring an entry level car with a minimum price tag of $3000 like the one Renault is planning.
Hyundai Motors India, the country's second-largest car firm, launched the diesel version of its top-end sedan Sonata Embera tagged at an introductory price of Rs 14.75 lakh (ex-showroom Delhi).
Leading carmaker Hyundai Motor India Ltd on Monday announced plans to roll out a CNG version of its bread-and-butter hatchback Santro by this year-end or early 2008.
Hoping to turn the tables on Japanese rival Maruti Suzuki's Swift, Korean car major Hyundai will launch a new version of its premium hatchback Getz under a new name Getz Prime by the end of this month in India.
Disappointed with dismal sales of its top end premium sedan Sonata, Hyundai Motor India Ltd will launch a diesel variant of the model this October, while it is readying to introduce a CNG driven small car by early next year.
Hyundai Motor India on Thursday said it had concluded a three-year wage agreement with its workforce, paving way for an increase in their salaries.
Hyundai eyes sales of three lakh units this year.
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