Mumbai: South Korean auto major Hyundai Motor Co President & CEO Jose Munoz Wednesday said the company’s Indian arm will invest Rs 45,000 crore by FY30, aiming to make India its second-largest region globally.
Addressing investors here in his first visit to the country, Munoz said Hyundai Motor India Ltd (HMIL) has set a target of up to 30 per cent export contribution.
The company also aims to increase its revenues by 1.5 times and cross the Rs 1 lakh crore milestone by FY2030 under its 2030 growth roadmap.
Under the roadmap, HMIL plans 26 product launches by FY2030, including seven new nameplates, marking its entry into the MPV and off-road SUV segments.
The company also aims to roll out a locally designed, developed and manufactured dedicated electric SUV for the Indian market by 2027.
The company will also launch the luxury segment brand Genesis in India by 2027.
“Following our landmark IPO last year and 30 years of success in India, now HMIL plans an investment of Rs 45,000 crore through FY30 to drive the next phase of growth,” Munoz said while addressing HMIL’s first-ever investor day here.
Sixty per cent of the investment will be on product and R&D, and the remaining 40 per cent on capacity and upgradation.
Asserting that India is a strategic priority in Hyundai’s global growth vision, he said, “By 2030, HMIL will be our second-largest region globally” behind North America.
Currently, India is Hyundai’s third-largest market, accounting for 15 per cent of its global sales, he added.
In alignment with Prime Minister Narendra Modi’s vision of ‘Make in India’, he said, “We’re making India a global export hub, targeting up to 30 per cent export contribution.”
On HMIL’s future product pipeline, Munoz said, “Our commitment is comprehensive – 26 product launches, including seven new nameplates, India’s first locally designed, developed and manufactured dedicated electric SUV by 2027.”
Stating that India’s fundamentals are strong, Munoz said the company’s strategy is clear for the market.
HMIL Managing Director Unsoo Kim said, “As we chart this growth trajectory, we are targeting a revenue milestone of Rs 1 lakh crore by FY2030, while sustaining strong double-digit EBITDA margins.”
Most importantly, Kim said, “We remain deeply committed to creating long-term value for our shareholders by announcing a healthy dividend payout guidance of 20 per cent to 40 per cent.”
Under its 2030 roadmap, HMIL is eyeing over 15 per cent domestic market share.
The company is also aiming for utility vehicles and eco-friendly powertrain (CNG, EV and Hybrid) contribution to reach over 80 per cent and more than 50 per cent, respectively, by FY30.
“We remain steadfast to augment our presence in the high-growth SUV segment driven by robust product strategy and customer-centric approach, thereby targeting over 80 per cent UV contribution by FY2030,” HMIL MD & CEO Designate, Tarun Garg, said.
He further said HMIL will offer a comprehensive range of powertrain options spanning ICE, CNG, EV and hybrid technologies, with more than 50 per cent of its portfolio powered by cleaner and more sustainable technologies.
In terms of reach, Garg said, “By FY30, our sales and service network will extend to 85 per cent of India’s districts, with rural markets expected to contribute 30 per cent of total sales.”
PTI
