Hyundai Motor moves to sidestep self-driving fallout in India
ㅇ Hyundai Motor’s bet on India is being overshadowed by Tesla’s technological leap toward flying cars, exposing the Korean carmaker’s self-driving doldrums. Hyundai Motor Group recently pledged $15.5 billion (20.7 trillion won) in investment in India through 2032, seeking to strengthen its position in one of the world’s fastest-growing major automotive markets. The commitment spans manufacturing…
Hyundai Motor's ambitious plans to expand in India are being eclipsed by Tesla's advancements in self-driving technology, highlighting the Korean automaker's struggles in the field. The company has pledged a staggering $15.5 billion (20.7 trillion won) in investments in India over the next decade, aiming to boost its standing in one of the world's most rapidly growing automotive markets.
This investment encompasses manufacturing, research and development, supplier support, and the development of next-generation technologies. However, despite this significant commitment, Hyundai Motor and Kia's combined vehicle sales in India last year amounted to only around 850,000 units, marking a mere 0.2% growth. This performance is notably below that of local competitors like Mahindra & Mahindra and Tata Motors, which experienced sales increases of 18.4% and 2.9% respectively during the same timeframe.
The disparity underscores the intense competition within India's automotive sector, where entrenched domestic manufacturers like Mahindra & Mahindra and Tata Motors have surged ahead.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Hyundai Motor moves to sidestep self-driving fallout in India koreatimes.co.kr
