Hyundai Motor Group Chair Chung Euisun Meets Prime Minister Modi: "We Will Become a Brand Loved by the People of India"

Outlined medium- to long-term growth strategy and investment plans for India
Annual production capacity of 1.4 million vehicles... as Indian market grows
Practicing social responsibility to become a "brand loved by the people of India"

Euisun Chung, Executive Chair of Hyundai Motor Group, met with Indian Prime Minister Narendra Modi to discuss the development of India's mobility industry during a ceremony marking the completion of Hyundai Motor's Pune plant.

Hyundai Motor Group said on the 14th that Executive Chair Chung held a one-on-one meeting with Prime Minister Modi on the 13th (local time) at the prime minister's residence in New Delhi, India. Chung said, "Hyundai Motor Group has grown alongside India over the past 30 years since entering the country in 1996," and expressed gratitude for the Indian government's continued interest and support.

Euisun Chung, Executive Chair of Hyundai Motor Group (left), met with Prime Minister Narendra Modi at the prime minister's residence in New Delhi, India, on the 13th (local time). Chung explained the group's local growth strategy, and the two exchanged views on ways to develop India's mobility industry. Hyundai Motor

Chung also outlined the group's business in India and its medium- to long-term investment plans for a new leap forward in India, one of the world's most dynamic automotive markets. He said, "With the Pune plant now in operation, we have secured annual production capacity of 1.4 million vehicles. Through stable production, we will actively respond to the continued growth of the Indian automotive market and expand exports to emerging countries."

He added, "India is a strategic country that will drive Hyundai Motor Group's future growth and expansion in emerging markets," and said, "We plan to invest approximately $15.5 billion (about 20 trillion won) over the seven years starting this year."

In India, Hyundai Motor Group is pursuing the construction of new plants, the strengthening of research and development (R&D) capabilities, improvements to the competitiveness of local supply chains, and the development of future technologies. These efforts are aimed at establishing the group as one of India's leading mobility companies in both name and reality by strengthening its local presence and expanding business opportunities. To this end, the group is also pursuing the establishment of a dedicated investment entity in India.

Regarding its ongoing efforts to grow alongside local communities, Chung said, "We are carrying out a range of corporate social responsibility initiatives to become a brand loved by the people of India, including supporting vulnerable groups and helping future generations grow."

This was the eighth meeting between the two leaders, who have exchanged views on India's industrial development and Hyundai Motor Group's local business on several occasions. Last April, Chung accompanied President Lee Jaemyung on his state visit to India as a member of the economic delegation and attended a luncheon with Prime Minister Modi. Chung also held a one-on-one meeting with Modi in 2024, when Hyundai Motor's Indian subsidiary was listed on the Indian stock market. The two have also communicated on various occasions, including Modi's visit to Korea in 2015, the Korea-India Business Summit, and India's MOVE Mobility Summit.

Hyundai Motor Group is expanding its investment in India, a key country in the Global South with high growth potential supported by the world's largest population. India's automotive industry, the world's third-largest after China and the United States, is also growing rapidly. The passenger vehicle market, which accounts for more than 80% of India's automotive market, is forecast to grow by nearly 15%, from 4.57 million vehicles last year to 5.25 million this year.

India has a large domestic market, but tariffs on imported fully assembled vehicles range from 70% to 110%, making it essential to establish a local production base. India also has a geographical advantage as an export hub serving the Global South, given its proximity to major emerging markets such as the Middle East and Africa. Its low manufacturing costs also make it easier to build manufacturing competitiveness, increasing its value as a global manufacturing and export hub.

Hyundai Motor's Chennai plant in India. Hyundai Motor.

Hyundai Motor's Chennai plant in India. Hyundai Motor

Hyundai Motor Group has continued to expand its local production base in line with the growth of the Indian market. It currently operates Hyundai Motor's Plants 1 and 2 in Chennai and Plant 3 in Pune, as well as Kia's plant in Anantapur. The group also sold a total of 852,164 vehicles in the local market, including 571,878 Hyundai vehicles and 280,286 Kia vehicles, securing an 18.7% market share and solidifying its position as India's second-largest automaker.

Hyundai Motor Group is pursuing a new leap forward in India through a large-scale medium- to long-term investment of $15.5 billion. It plans to increase investment in production capacity, strengthen R&D capabilities, improve the competitiveness of local supply chains, and develop future technologies. The goal is to strengthen business competitiveness by developing and supplying products and technologies tailored to Indian customers more quickly.

The group is also expanding cooperation with local companies and startups in future mobility and new technology. Hyundai Motor Group has completed development of a prototype electric three-wheeler (i3W) in collaboration with India's TVS Motor Company and is working toward commercializing it by the end of 2027. It is also exploring future business opportunities in automotive financing, electric vehicle charging infrastructure, and vehicle recycling, in addition to expanding new mobility services.

Hyundai Motor Group is pursuing the establishment of a dedicated investment entity in India. The entity will identify, coordinate, and execute future investment initiatives at the group level. It is also expected to serve as a platform for systematically coordinating and executing investments in R&D infrastructure, future technologies, and the broader industrial ecosystem, as well as identifying and supporting outstanding local partners through strategic investments in local companies.

Hyundai Motor Group continues its corporate social responsibility activities to establish itself as a trusted and well-loved brand in India. A leading example is the "Samarth" campaign, which supports the social participation and independence of people with disabilities. The group provides financial support and infrastructure to help athletes with disabilities focus on training, and produces and distributes videos to raise awareness about disabilities.

Hyundai Motor India plans to establish and operate HATS (Hyundai Academy for Technical Skills), a vocational and technical school designed to meet the world's highest standards, in Chennai, Tamil Nadu. The school will provide vocational and technical training in key fields, including automobile production and maintenance, smart factories, construction, and industrial safety. It aims to train approximately 13,000 people annually and help develop skilled workers to drive growth in India's manufacturing and advanced technology industries.

From 2016 through 2025, Hyundai Motor, Kia, Hyundai Mobis, and other major group companies provided approximately $110 million to support community initiatives in India. A Hyundai Motor Group official said, "We will continue our sincere corporate social responsibility activities, including supporting vulnerable groups and nurturing future generations, and contribute to India's sustainable development while establishing ourselves as a partner that grows alongside local communities."

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