Hyundai Invests Big Over Next 3 Years To Launch 9 New Products

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Besides planning to increase production capacity, Hyundai is planning to introduce facelifted Creta, a new small car and an electric SUV in the immediate future

Hyundai is reported to be investing a massive sum of around Rs. 65 billion over the course of next years. The second best-selling automaker in the country is planning to introduce brand new vehicles including an electrified SUV. The state-of-the-art manufacturing facility near Chennai will see increase in its capacity as the proposed expansion will make room for producing 50,000 units in addition as early as next year.

It will be done through debottlenecking and increasing hourly output. Currently, 58 units are produced per hour at an increase of 13 units from previous times. Over the course of next three years, nine new products will be developed and the proposed investment will top off the Rs. 210 billion the South Korean company has cashed in already in India.

Also Read: Hyundai Kona Electric SUV India Launch In Mid-2019; To Be Priced Rs. 25 Lakh 

2017-Hyundai-Creta-facelift-9.jpgGoing into specifics, there will be two facelifts, four new full models, an electric SUV and two models in new segments. The full model updates could include the Eon and by the second half of this year a brand new small hatchback will be positioned between the Eon and Grand i10. Hyundai appears to not have made a final decision on whether to brand it as Santro or not.

The Creta facelift is expected to be launched in the coming months (most likely in May) with an updated exterior and improvements inside the cabin. However, the biggest impact of them all could be made by the upcoming electric SUV. More likely to be launched next year, the electrified Kona will be imported into the country via CKD route along with charging kits.

Also Read: Upcoming Hyundai Creta Facelift’s Likely India Launch In Mid-2018 

2018 Hyundai Santro India Launch, Price, Engine, Specs, Features, Interior 3Hyundai’s initial target will be selling around 50 examples of the Kona EV and if demand persists the offering number could be increased per year. Hyundai is looking to close the massive gap existing to Maruti Suzuki in terms of market share and it accounts for 15 percent of the brand’s global sales. The expansion of the existing facilities and new launches could aid in achieving that feat.
Source: BusinessStandard