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Hyundai India to invest Rs 5,000 Cr, develop 8 new products

Next Gen Hyundai Verna

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.

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About Jaishankar Jayaramiah

Jaishankar Jayaramiah is a well-known India-based award-winning international Journalist and columnist, who is familiar for his multi-subject expertise, especially in business Journalism. Many of his write-ups remained as game changers in the Indian trade industry while also guiding the government to chalk out its policies. An Engineer-turned Journalist Jayaramiah has worked for Autocar Professional, The Financial Express, The New Indian Express and Automotive World among others before joining Automotive India News. He has extensively traveled across the country, writing on multiple subjects and also visited countries like Germany, Italy, Japan, China, Taiwan, Singapore, Thailand, Hongkong, Sri Lanka, Maldives etc. Don’t wonder if you find a story on coffee or agriculture or even on politics when you Google his details as he has written on almost all subjects during his 18-year journey so far in Journalism. While keeping automotive as main beat all along his career, he has also covered all other verticals under Old & New Economy. For the past few years, he has been focusing only on B2B Automotive niche. Personally he likes to write more on the government policies; international trends related to automotive industry and new auto technologies.

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