Hyundai Motor India, a subsidiary of South Korean car maker Hyundai Motor, said it will invest Rs 5,000 crore in the next four years and develop eight new products.
After launching next Gen Verna in Bangalore today, Sung Jong Ha, Executive Coordinator, Director, Sales & Marketing Division, Hyundai Motor India, said, “India is important market for us as it contributes around 14.7 percent of our global revenue. We will keep investing in India in the coming years. “
Jong Ha was addressing the media persons along with Rakesh Srivastava, Director, Marketing & Sales Division, Hyundai Motor India, after launching next Gen Verna in Bangalore today.
Jong Ha and Srivastava said the company will release two new products each year in the next four years. The duo said the South Korean car maker has already invested $ 3.2 billion in India in addition to $ 32 million at its Indian R&D facility. In addition to this, the vendors of Hyundai India have made a combined investment of around $1.2 billion in the country.
Already Hyundai has sold around 1.37 million units of Verna sedan in India since its launch in 2011-12. The next gen Verna is expected to push up Hyundai India sales to new levels, the company officials said.
Built on all new K2 platform, the next Gen Hyundai Verna comes in both petrol and diesel versions as well as in manual and automatic transmission modes.
The price of petrol version has been fixed in the range of Rs 7.99 lakh to RS 12.23 lakh while diesel version price tag is in the range of Rs 9.19 lakh – Rs 12.61 lakh.