Hyundai Motor Group bets $15.5 billion on India as global auto hub

Hyundai Motor Group has announced a staggering $15.5 billion investment in India through 2032, positioning itself as a key player in the world's third-largest car market. This seven-year plan includes a $700 million commitment to its Indian research and development center, expansion of production capacity, and the formation of a dedicated investment entity.

India, already the world's third-largest car market, is drawing billions of dollars in investment from global automakers who see great potential in tapping rising demand and expanding local manufacturing capacity. This underscores the country's growing importance as a major automotive production hub.

Last year, Hyundai had already committed $5 billion to expand its manufacturing and research operations in India. Similarly, Japan's Suzuki Motor, the majority owner of India's largest carmaker by volume, Maruti Suzuki, has outlined plans to invest approximately $8 billion in the country by 2025.

Other automakers, including Toyota and Honda, have also committed to expanding their manufacturing ambitions in India. Hyundai Motor, which currently employs over 24,000 people in India, expressed confidence in the investment's potential.