Executive Chair of Hyundai Motor Group (the Group or HMG), Euisun Chung, travelled to India to assess the Group’s medium- to long-term future transportation plans. Employees of Hyundai Motor India attended the Executive Chair’s first town hall meeting abroad.
Executive Chair Chung’s travel to India is intended to strengthen the Group’s standing as a top mobility provider in the country and investigate potential business prospects in the quickly developing Indian market, given the nation’s increasing strategic significance.
In addition to making a strong effort to appeal to Indian consumers, the Group is dedicated to upholding its social obligations through culturally sensitive CSR and ESG initiatives.
The Motor Group is delivering a major manufacturing advance in the Indian region with the establishment of an annual production system of 1.5 million vehicle units for Hyundai Motor India and Kia India combined. The Group will expand its EV lineup and create an EV ecosystem to accelerate customer uptake and expand charging infrastructure. It will also strengthen its SUV sales leadership and promote social responsibility activities in consideration of Indian culture.
Executive Chair Chung conducted an in-depth review of and engaged in detailed discussions on Hyundai Motor Group’s mid-to long term strategies in India at the new Hyundai Motor India Headquarter Delhi office, situated in Gurugram. A town hall meeting was also held on April 23 to communicate in person with Hyundai Motor India employees.
The purpose of the meeting was to share the Group’s vision and engage with colleagues ahead of new opportunities such as the establishment of an annual production system of one million units and promotion of the Group’s electrification strategy.
Alongside Executive Chair Chung, key executives from Hyundai Motor – including Jaehoon Chang, the President and CEO of Hyundai Motor Group, and Unsoo Kim, Managing Director and CEO of Hyundai Motor India – participated, in addition to 400 Hyundai Motor India employees.
The event marked the first time that Executive Chair Chung held a town hall meeting outside of Korea. He has previously conducted two town hall meetings in Korea and last year led Hyundai Motor Group’s New Year’s event in the form of a town hall meeting.
Hyundai Motor India will start operating its Pune plant in the second half of next year. Located in Maharashtra, western India, the production facility was acquired from GM last year. Hyundai Motor is currently making improvements to the facility to create a production hub capable of building more than 200,000 units annually, using smart manufacturing technology and systems.
With the addition of the Chennai plant’s production capacity of 824,000 units, Hyundai Motor will have an annual production capacity of over one million units when combined with the Pune plant.
Hyundai Group India plans to unveil its first locally produced EV in India next year and proactively respond to the growth of the Indian EV market. Starting with the mass production of its first electric SUV model at the Chennai plant at the end of 2024, the company plans to further produce five EV models by 2030. Hyundai Motor India will also utilize its sales network hubs, expanding the number of EV charging stations to 485 by 2030. Kia India will also start production of its local EV model in 2025 and plans to further expand its EV models. The company will also focus on building EV charging infrastructure. Hyundai Motor and Kia recently signed a Memorandum of Understanding with Exide Energy Solutions Ltd., a leading Indian battery company, and are pursuing the local production of batteries for dedicated Indian EV models.
Explaining the reason that he suggested the town hall meeting in India, Executive Chair Chung said, “The success of these ambitious initiatives by Hyundai Motor India is a testament to the creative and innovative efforts of our employees across the region.”
Extorting the Group’s success in the Indian market, Executive Chair Chung highlighted Hyundai Motor Group’s technological strengths as well as the loyalty and trust of those who have chosen Hyundai for many years.
“Hyundai brought its expertise in producing compact cars and advanced technology. The favorable conditions of the Indian automobile market combined with Hyundai’s technological strengths led to synergistic results,” added Executive Chair Chung. “However, above all else, the key factors behind Hyundai’s success in India are the dedication of its employees, who are among the brightest minds globally and demonstrate profound integrity.”
