Hyundai committed to India investment target
Even as it maintains a cautiously optimistic stance ...
Even as it maintains a cautiously optimistic stance on sales growth in India, automobile major Hyundai is committed to the planned investment target in the country. Nearing its silver jubilee in India, the company foresees better days ahead with consumers readying to upgrade to newer models. Accordingly, Hyundai Motor India’s MD & CEO S.S. Kim said the company is on track to fulfil its investment commitments in India.
“In 2019, we announced an investment target of Rs 7,000 crore from 2019 to 2024 based on those numbers we are investing and keeping up with that,” he said. Broadly, around 40 per cent of the planned target has been met, while the rest will be invested till 2024. The company has invested about $4 billion since its inception in India.