Hyundai Motor Group to invest $15.5 billion in India in seven years

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The Economic Times daily newspaper is available online now. Read Today's Paper Hyundai Motor Group to invest $15.5 billion in India in seven yearsBy Sharmistha Mukherjee, ET BureauLast Updated: Oct 13, 2026, 10:16:00 PM ISTSynopsis

Hyundai Motor Group will invest $15.5 billion in India by 2032 to expand manufacturing operations and R&D capabilities. This investment aims to strengthen the local automotive ecosystem while fostering partnerships with local suppliers. Additionally, the group will establish a dedicated investment entity in India to coordinate these efforts. The comprehensive investment is expected to create numerous job opportunities across various sectors.

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Loading...×New Delhi: Korea’s Hyundai Motor Group Tuesday said it will invest $15.5 billion in India over a seven-year period till 2032.

The initiative positions India as a strategic core market for the Group's future growth, emerging market expansion, and next-generation automotive innovation.

The initiative was discussed during a meeting between Prime Minister Hon’ble Narendra Modi and Hyundai Motor Group Executive Chair Euisun Chung at the Prime Minister’s Office in New Delhi on October 13.

The investment will be made towards expanding manufacturing operations, research and development (R&D) infrastructure development, local supplier cultivation for parts localization and future technology innovation - fostering a comprehensive automotive industry ecosystem in India, HMG said.

To effectively execute this large-scale investment initiative, the Group will establish a dedicated investment entity in India. The entity will systematically coordinate and execute investments across R&D infrastructure, future technologies and the broader automotive industry ecosystem. Additionally, it will serve as a platform to identify outstanding local partners, support strategic partnerships and foster collaboration with local suppliers.

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“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. Through this investment, we will create more employment opportunities and work together with our partners and stakeholders to support India’s continued industrial development”, Euisun Chung, Executive Chair, Hyundai Motor Group said.

As part of the initiative to scale up its presence in the Indian market, HMG plans to expand manufacturing capacity across Hyundai Motor India and Kia India to support significant volume growth while ensuring localization to meet local market demands. This expansion will position India as one of the leading global export platforms for the Group.

The Group also plans to establish a complete R&D system in India through infrastructure expansion and local talent cultivation. In a statement the company said, “A key focus is strengthening technological competitiveness through the Group's Indian R&D center. With approximately $ 700 million investment planned in the R&D center, including its vehicle testing track, the Group will accelerate next-generation automotive technology development and establish India as a core innovation hub.”

Hyundai additionally said it will strengthen local supply chain and support supplier development in India through strategic investments in regional partners. “These partnerships will enhance parts localization, identify excellent local suppliers and build a stable, resilient supply-chain ecosystem across the Indian automotive industry”, the statement added.
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Hyundai Motor Group further said it aims to lead India's future mobility ecosystem through strategic investments in emerging opportunities. This includes support for high-potential startups and expansion into new mobility services integrated with its core vehicle business. The Group will also explore opportunities in new business verticals including specialized automotive financing, EV charging infrastructure, and end-of-life vehicle recycling.

Hyundai Motor Group currently employs more than 24,000people across India. This comprehensive investment is expected to create high-quality employment opportunities across manufacturing, R&D, engineering, and supply chain sectors. Beyond direct job creation at Hyundai Motor Group facilities, the investment will stimulate employment across the broader automotive ecosystem through supplier partnerships, technology development and emerging mobility ventures. HMG said the initiative is expected “to contribute significantly to India's economic development while building a robust local talent pool in advanced automotive technologies”.

Hyundai Motor Group said India is one of the world's fastest-growing automotive markets and “a critical platform” for its mid-to-long-term strategy.

Hyundai Motor Group has established comprehensive production capacity of more than1.4 million vehicles annually across India, encompassing HMIL's facilities in Chennai (824,000 units capacity), HMIL's latest manufacturing facility in Pune (170,000 units capacity), and Kia India's Anantapur plant (431,000 units capacity). As Pune's capacity is scheduled to be scaled up in phases, the Group's India manufacturing footprint will continue to expand.

The Group has also established component and service operations through its affiliates including Hyundai Mobis, Hyundai Transys, Hyundai Capital, Hyundai Wia and Hyundai Glovis.
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