South Korean carmaker Hyundai plans 'strategic' investment of $15.5 billion in India by 2032
Korean car company Hyundai says India is a strategic core market
Key points
- Hyundai Motor Group plans to invest $15.5 billion in India from 2026 through 2032.
- The investment will cover manufacturing expansion, R&D, local supplier cultivation and future technology.
- Hyundai is India's third-largest carmaker and listed its India unit in 2024, raising $3.3 billion.
Hyundai Motor Group announced on Tuesday that it will invest $15.5 billion in India between 2026 and 2032. The South Korean carmaker described India as core to its emerging-market growth and expansion.
The announcement followed a meeting between Hyundai Motor Group executive chair Euisun Chung and Indian Prime Minister Narendra Modi.
What the investment covers
Over the seven-year plan, Hyundai said the money will go toward manufacturing expansion, research and development infrastructure, local supplier cultivation for parts localization, and future technology innovation. The company will set up a dedicated investment entity in India to carry out the investments.
India remains one of Hyundai Motor Group's most important and strategic markets globally
— Euisun Chung, executive chair of Hyundai Motor Group
Hyundai's position in India
Hyundai is the third-largest car company in India. It sold 247,980 passenger cars there between April and August this year, according to data released last month. Maruti Suzuki was the top seller in that period, followed by Mahindra & Mahindra. In the financial year ended March 2026, Hyundai ranked fourth, edged out by M&M and Tata Motors.
Hyundai has a total production capacity of 1.4 million vehicles across India and exports cars from those locations. In 2024, it listed its India business unit, Hyundai Motors India, raising $3.3 billion in the country's largest-ever initial public offer.
