Hyundai to export cars in completely-knocked-down format to select markets

To gain tax advantage and to create additional capacity for the domestic market

Hyundai Motor India Ltd (HMI), the Indian subsidiary of Korean automobile major Hyundai Motor, has decided to send vehicles in the Completely Knocked Down Units (CKD) format to select export markets.

This comes at a time of growing demand for Made-in-India cars, and a high tax rate on CBUs (Completely Built Units) in the destination markets.

Completely Built Units (CBU) refers to vehicles which are sold as ready-to-drive, whereas Completely Knocked Down Units (CKD units) are vehicles whose parts are officially imported from foreign countries and are assembled in the country were the car is sold.

Speaking to reporters after