HD Hyundai Site Solutions to Establish Industrial Vehicle Production Hub in India with 5,000 Units Annual Capacity by 2030

Direct Investment in Local Production Facility in India
Expanding Beyond Domestic Sales to Serve as Export Hub for Emerging Markets
Enhancing Technical Competitiveness through Expanded Local R&D

HD Hyundai Site Solutions is establishing an industrial vehicle production facility in India, aiming to build an annual production system with a capacity of up to 5,000 units by 2030. The company plans to target India’s growing domestic market and expand exports to neighboring emerging countries, fostering the facility as a global hub for industrial vehicle production and research & development (R&D).

HD Construction Equipment CI.

On August 31, HD Hyundai Site Solutions announced a direct investment for establishing a local production facility in connection with a paid-in capital increase for its Indian subsidiary.

The company plans to set up a new industrial vehicle manufacturing facility in India and secure production capacity for up to 5,000 units annually by 2030. Leveraging this, it aims not only to capture the Indian domestic market but also to expand exports to nearby emerging countries, laying the groundwork for global growth in the industrial vehicle business.

The growth potential of the Indian industrial vehicle market is also cited as a reason for the investment. According to global market research firm Grand View Research, the Indian industrial vehicle market is expected to grow at an average annual rate of 5–6% due to government-led initiatives to expand transportation and logistics infrastructure, with market size projected to exceed USD 10 billion by 2033.

Alongside expanding production capacity, HD Hyundai Site Solutions will also enhance its local R&D capabilities. By leveraging India’s highly skilled R&D workforce, the company aims to strengthen product development and broaden the Indian subsidiary’s role beyond that of a global production base to a hub for technological advancement.

In particular, the company intends to raise the technical competitiveness of its Indian subsidiary to the level of global top-tier manufacturers in order to enhance responsiveness to the local market. By integrating production and R&D functions in one location, it also expects to achieve faster linkage between product development and manufacturing tailored to local demand.

HD Hyundai Site Solutions aims to establish India as a key global hub, securing a leading position in the high-growth local industrial vehicle market while expanding export regions to neighboring emerging countries, further strengthening its global market strategy.

This content was produced with the assistance of AI translation services.