Hyundai to pump in USD 1 bn in India by 2020

South Korean auto major Hyundai plans to invest over USD 1 billion (around Rs 6,300 crore) in India in the next three years on new products, development of powertrain and setting up of a new office building.

The company, which operates here through its wholly-owned arm Hyundai Motor India Ltd (HMIL), plans to launch an electric vehicle next year and is also gearing up for the possible comeback of its popular model Santro around Diwali this year.

HMIL has lined up nine products to be introduced between 2018 and 2020.

“Our total investment till 2020 will be over USD 1 billion,” HMIL Managing Director and CEO YK Koo told in an interview.

He further said: “The investments will be on nine new products to be launched between this year and 2020, powertrain development and setting up of our new office building in Gurugram,” he said.


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