Hyundai Motor India Limited would export 50 per cent of its production after expansion of capacity scheduled to be completed by 2008, a company official said.
Hyundai Vice President (sales and marketing) Arvind Saxena told reporters at the launch of Verna in Kolkata on Wednesday that the second plant, coming up near the existing one near Chennai, would go on stream in 2008.
The new plant would have a production capacity of three lakh cars, thus, taking the total to six lakh cars per annum, Saxena said.
Hyundai would make India as a major export base for the company, he said.
The company planned to export 300,000 cars from India to at least 60 countries, including Latin America, Europe and Africa, he added.
Hyundai would be investing about $500 million in the second plant, while some other investments would be made in engine transmission and research and development.
Total additional investments by Hyundai would be in excess of $900 million.
Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group
© 2025