Hyundai set to invest $15.5bn in India till 2032

CHENNAI: Hyundai Motor Group will invest $15.5 billion in India between 2026 and 2032 to expand manufacturing, research and development, local sourcing and future mobility technologies, positioning the country as a key production and export hub.The investment was announced following a meeting between Hyundai Motor Group executive chair Euisun Chung and Prime Minister Narendra Modi in New Delhi on Tuesday. The seven-year investment will cover manufacturing expansion at Hyundai Motor India and Kia India, R&D infrastructure, supplier development and emerging mobility businesses. The group will also establish a dedicated investment entity in India to coordinate capital deployment and strategic partnerships.The group plans to invest about $700 million in its Indian R&D centre, including a vehicle testing track, to accelerate the development of next-generation automotive technologies. The investment will also support local suppliers, emerging mobility startups and new business areas such as EV charging infrastructure, vehicle recycling and automotive financing. It is also expected to generate employment across manufacturing, engineering, R&D and supply chains while strengthening India's role in the group's global operations and exports."India remains one of Hyundai Motor Group's most important and strategic markets globally. The past 30 years have been defined by our commitment to India. This investment reaffirms our commitment to India for the next 30 years and beyond," Chung said, adding that it would create employment opportunities and support industrial development.Hyundai Motor Group has an annual vehicle manufacturing capacity of more than 1.4 million units in India across a number of facilities.You use AI every day. Now get your AI Quotient. Take the AIQ test.