As per a report published in Economic Times, Hyundai, India’s second largest car manufacturer is planning to open a second manufacturing plant to meet with the increasing demand.
This is specially considering the recent launches and the slew of products which are lined up. Hyundai intends to launch at least two to three new cars every year.
Their existing factory in Chennai has a capacity of 6.8 lakh units annually which they can stretch to a bit more than 7 lakhs. Hyundai India has even cut down on exports to meet the demands of the ever growing domestic market. In fact supplies to Europe have been burdened on factories in Czech Republic and Turkey.
Though the place has not been finalized, Hyundai is considering quite a few states including Gujarat, which has been the place of choice for many manufacturers recently. The company is believed to be capable of building a new plant in a very short amount of time. So that is not a problem which Hyundai is worried about.
The report continues to add some fuel to the upcoming launches by the company. A high ranking company official has said that Hyundai India will be investing close to Rs 1600 crores annually to develop new products. Most of the work will be done at their Research and Development centre in Hyderabad. Hyundai’s official confirmed that the next new product will be a compact SUV, which we know is the ix25. It has been very recently spied testing on our roads with its arch rivals Duster and EcoSport.
The next car to follow it will be a 7-seater MPV from Hyundai, details of which are very sketchy at this point. It is obvious to believe that the MPV will be pitted against the Ertiga and Mobilio and at similar price points between 5 to 11 Lakhs!