Page 5 - Hyundai

Indian small car exports thrive as domestic demand shifts to SUVs

Maruti Suzuki, Hyundai, Kia, Citroen, Volkswagen, Honda, Nissan, and Renault are finding markets abroad

Hyundai ties up with Laxmi Group to begin Venue production in Nepal

Hyundai Motor India on Monday said it has commenced local assembly of its compact SUV Venue in Nepal in collaboration with Laxmi Group. The plant, the first automotive assembly facility in Nepal, has an annual installed capacity of 5,000 units. "Hyundai Venue will be the first locally assembled model to roll off the plant. I would like to convey my sincere congratulations to the people of Nepal for this achievement," Hyundai Motor India MD & CEO Unsoo Kim said in a statement. The company is grateful to Nepal Prime Minister Pushpa Kamal Dahal and the Government of Nepal for their unwavering support for the facility, he added. "We look forward to more encouraging policies and incentives from the Nepal Government aimed at developing a conducive environment for local assembly," Kim said. Hyundai has partnered with Nepal-based Laxmi Group for the assembly plant. The Laxmi Group will manufacture and sell the cars in Nepal, in continued collaboration and support on products and ...

Hyundai's India unit, Tata Motors post higher April sales, Eicher sales dip

The sales numbers are seen as a key indicator of private consumption in India. The auto sector has more than 50% weightage in calculating the country's economic growth

Hyundai India to have 5 new EVs by 2030, launch first electric SUV in 2024

Company will 'proactively build' charging stations to facilitate the adoption of EVs in country

Hyundai Motor's Q1 profit drops 2.4%, hurt by weak domestic sales

The world's No.3 automaker by sales along with affiliate Kia Corp sold 1.5 fewer vehicles, delivering 1.007 million units in the first quarter

Hyundai Motor India rolls out 'Grameen Mahotsav' in 16 new locations

Auto-maker Hyundai Motor India has expanded its 'Grameen Mahotsav' initiative to 16 new locations across the country, after the success of its inaugural event held in Gujarat this month. The 'Grameen Mahotsav' initiative aims to further strengthen HMIL's connection to rural India with specially curated events and product displays including live music, folk dance, and regional talent shows among others. It also serves as a platform for Hyundai to delve into the vast potential of rural markets. By closely engaging with communities and discerning market trends, HMIL aims to not only cater to evolving aspirations but also identify and welcome new customers, Hyundai Motor India said in a statement on Friday. The inaugural 'Grameen Mahotsav' event was held successfully in Mahemdavad, Gujarat. Now, Hyundai Motor India looks forward to extending its reach and impact across rural landscapes. "Our sustained efforts towards bolstering rural connect are bearing great fruits and Hyundai Motor

Hyundai, Kia tie up with Exide for electric vehicle battery localisation

The two auto majors plan to focus on the production of lithium iron phosphate cells. This will make them pioneers in the space

South Korea's Hyundai Motor Group to invest $51 bn won over 3 years

Hyundai Motor Group includes flagship Hyundai Motor and its affiliate Kia, which together are the world's number three automaker by sales

With artificial intelligence at the wheel, Hyundai's TN unit shifts gear

The plant, one of the first units by any industrial player in Sriperumbudur is set to see an investment of Rs 26,000 crore, as it enters into 26th year of its operation

Hyundai to target performance-oriented niche segment with N Line range

Hyundai Motor India is seeking to address a niche, yet growing segment of buyers who are performance-oriented through its N Line range of products, according to company COO Tarun Garg. The company, which currently offers the N Line range on its two models -- i20 hatchback and compact SUV Venue -- that has styling and performance upgrades compared to the normal offering, on Monday also introduced its mid-sized SUV Creta priced between Rs 16.82 lakh and Rs 20.29 lakh (ex-showroom Delhi). "In 2021, we sold 3,196 (units of ) N Line. In 2022, we sold 7,560 N Line and in 2023, we sold 9,718 N Line...overall 22,000 N Line....the numbers are increasing. At the same time, frankly, I don't think volume is an objective in N Line. We understand it's a niche market," Garg said in an interaction. On the objective behind introducing more products under N Line, he said, "We believe even if there's a niche, I think it's our responsibility to give the set of customers who are looking to have a very .

Hyundai recalls more than 90,000 Genesis vehicles in US due to fire risk

Hyundai is recalling more than 90,000 Genesis vehicles due to a fire risk and owners are advised to park outside and away from structures until a repair is completed. The recall includes certain 2015-2016 Genesis, 2017-2019 Genesis G80, Genesis G90, and 2019 Genesis G70 vehicles. A letter from the National Highway Traffic Safety Administration states that water may enter the starter solenoid and cause an electrical short, which can result in an engine compartment fire while parked or driving. Hyundai said in documents that it has confirmed a dozen thermal incidents with starters in the US from September 29, 2017 to July 9 of 2023. Thermal incidents generally involve smoke, melting of components or fires. It wasn't clear from the documents if there had been any fires. The documents said there were no crashes or injuries. Dealers will install for free a remedy relay kit in the engine junction box.

Hyundai seeks expansion and higher valuation with its $3 bn IPO in India

Hyundai, India's second-biggest carmaker behind Maruti Suzuki with a 15 per cent market share, has appointed bankers for the initial public offering which could be the country's biggest ever

Hyundai Motor picks JPMorgan, Citi to accelerate $3 billion IPO: Report

The company plans to file regulatory papers in India by May to June for an approval, said two of the three sources, all of whom declined to be named as the talks are private

Tax implications likely to influence Hyundai's decision to list Indian arm

Hyundai Motor is exploring an initial public offering (IPO) of its Indian unit to raise around $3 bn (at a valuation of up to $30 bn), according to sources

Passenger vehicle sales to grow 3-4% in 2024: Hyundai COO Tarun Garg

He said that the Indian PV industry expected volume sales growth of 3.5 to 5 per cent in 2023 but eventually it went up to 8.2 %. Hyundai's domestic sales increased by 9 % in 2023 to 602,111 units

Hyundai Motor to spend $845 million fixing Talegaon plant bought from GM

Hyundai last year bought the General Motors factory in Talegaon, which has stood idle for years after the US company struggled to sell it off following its exit from the country

Hyundai Motor to spend $845 million fixing Talegaon plant bought from GM

Hyundai last year bought the General Motors factory in Talegaon, which has stood idle for years after the US company struggled to sell it off following its exit from the country

Hyundai, IIT-M to set up Hydrogen Valley Innovation Hub for green solutions

Auto-maker Hyundai Motor India and the Indian Institute of Technology, Madras here is set establish a Hydrogen Valley Innovation Hub at an outlay of Rs 180 crore, which would promote hydrogen-based clean energy solutions in various applications and sectors. A memorandum of understanding between Hyundai Motor India, IIT-Madras, and the state government's investment promotion agency Guidance Tamil Nadu was signed during the Global Investors Meet held here recently. "The Hydrogen Valley Innovation Hub project, with a total project cost of Rs 180 crore, will be established with an investment of Rs 100 crore by Hyundai Motor India Ltd, towards its capital expenditure requirements," a press release from IIT-Madras said on Friday. The Chennai-based premier research institute would take up the responsibility of setting up the hub at its sprawling campus in the city, and provide both the building as well as research and development infrastructure. IIT-M would also develop a curriculum and b

Hydrogen energy makes a comeback in vehicle conversation at CES 2024

While electric vehicles are gaining the lion's share of the attention for carbon-neutral technology at CES 2024, hydrogen energy has snuck its way back into the conversation thanks to two automotive giants. Hyundai spotlighted its plans for utilizing hydrogen energy at the sprawling tech and gadget show in Las Vegas. Beyond making vehicles powered by hydrogen-powered fuel cells, the South Korean automaker signaled that it could work toward aiding a hydrogen society by expanding into energy production, storage and transportation. It's already technologically feasible, and it will eventually make sense economically, too, Jos Muoz, president and global chief operating officer of Hyundai Motor Co., predicted Monday. Meanwhile, automotive supplier Bosch Mobility plans to launch its first hydrogen combustion engine this year another key step toward reducing global man-made carbon emissions, the company said during its CES 2024 event. Both Bosch and Hyundai say they've been encouraged to

Hyundai Motor debuts air taxi ahead of test flights later this year

The South Korean company will apply for certification of the vehicle in the US by the middle of 2024 with the goal of starting technology demonstrator flights by the end of the year