Hyundai's $5.4 Billion Bet: How India Becomes Its Second-Largest Market

The announcement was made by Jose Munoz, President & CEO of Hyundai Motor Company (HMC), who said India will emerge as the company's second-largest region globally by 2030, in line with Prime Minister Narendra Modi's 'Make in India' initiative. "Following our landmark IPO last year and 29 years of success in India, Hyundai Motor India is set to drive its next growth phase with an investment of Rs 45,000 crore. By 2030, we envision HMIL to be our second-largest global region and a major export hub, contributing up to 30% of total exports," Munoz said.

Under the 2030 roadmap, Hyundai aims to launch 26 new models, including seven new nameplates, marking its entry into the multi-purpose vehicle (MPV) and off-road SUV segments. The company also confirmed that it will produce India's first locally manufactured dedicated electric SUV by 2027 and plans to introduce its luxury brand Genesis in the Indian market the same year.

Hyundai targets over 15 per cent domestic market share by FY2030, with utility vehicles (UVs) expected to account for over 80 per cent of its sales. Eco-friendly powertrains comprising CNG, hybrid, and electric models are projected to contribute more than 50 per cent to its portfolio by the end of the decade.

Speaking on the occasion, Unsoo Kim, Managing Director of HMIL, said the company's investment plan reflects its long-term commitment to India's growing mobility ecosystem. "We are targeting a revenue milestone of Rs 1 lakh crore by FY2030 while sustaining strong double-digit EBITDA margins. Our focus remains on creating long-term shareholder value with a healthy dividend payout guidance of 20%-40%," he said.

Tarun Garg, Whole-time Director and COO of HMIL, emphasized that the company's growth will be driven by India-centric products and customer-focused strategies. "Our 2030 roadmap aims to redefine HMIL's growth trajectory and strengthen our leadership in the high-growth SUV segment. We are also expanding our sales and service network to cover 85% of India's districts, with rural markets expected to contribute nearly 30% of total sales," he added.

Hyundai is also investing heavily in manufacturing innovation, advancing toward a Software Defined Factory model to boost operational efficiency and localisation. The company said it will continue to play a central role as Hyundai's global export hub, underscoring India's strategic importance in its international operations.

With this roadmap, Hyundai Motor India aims to achieve 1.5 times revenue growth by FY2030 and reinforce its position as one of the leading automotive manufacturers in the country.

- ANI