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

Hyundai Motor Group has announced a $15.5 billion investment in India over the next decade, positioning the country as a key growth driver for the global automotive industry. The South Korean automaker's seven-year strategy includes allocating $700 million towards its Indian research and development hub, expanding its production capacity, and establishing a dedicated investment entity.

India, currently the world's third-largest car market, is attracting substantial investments from international automakers who are capitalizing on the rising demand and aiming to bolster local manufacturing capabilities. Hyundai's commitment to India began last year when it announced a $5 billion investment plan to bolster its manufacturing and research operations in the country.

Suzuki Motor, a Japanese automaker and the majority owner of India's leading car manufacturer by volume, Maruti Suzuki, has also announced plans to invest approximately $8 billion in the nation by 2025. Other prominent car manufacturers, such as Toyota and Honda, have similarly committed to expanding their manufacturing ambitions in India.

Hyundai Motor, which currently employs over 24,000 people in India, stated that the $15.5 billion investment will further solidify the automaker's presence in the country and contribute to the growth of India's automotive sector.