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Hyundai Commits $5.1 Billion to India After Falling to Fourth Place

The automaker targets 26 new models by 2030 as market position erodes
South Korea
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Hyundai Motor plans to invest 450 billion rupees ($5.1 billion) in India over five years, seeking to reverse sliding market share that has pushed the South Korean carmaker to fourth place behind Mahindra & Mahindra and Tata Motors.

The company announced Wednesday it expects to reach 1 trillion rupees in annual revenue by March 2030, roughly 45% above the 692 billion rupees recorded in the fiscal year that ended this March. The plan includes 26 product launches, entry into multipurpose vehicles and off-road SUVs, plus a locally manufactured electric vehicle by 2027.

Hyundai’s market share contracted to 12.47% in April from 14.29% a year earlier, reflecting a broader struggle against domestic rivals who have capitalized on India’s SUV boom. The company has faced inventory management issues, with wholesale shipments significantly exceeding retail sales in recent months.

Roughly 38% of Hyundai’s volumes come from the Creta SUV alone, according to industry data, underscoring its dependence on a single model while competitors expand across multiple segments. The company has limited presence in the electric vehicle market where Tata Motors leads, and has been slower to respond to hybrid vehicle demand.

The investment comes after Hyundai raised 279 billion rupees ($3.15 billion) in India’s largest initial public offering last year.

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