Hyundai to boost exports by eight percent
Hyundai Motor India Ltd. (HMIL) is planning to boost its exports by about eight percent. In addition to making India its small car hub, Hyundai is also increasing the number of its R&D personnel in the country by four times and the company plans to start exporting engines from its Chennai plant in 2009.
‘In the first half, about 42 percent of our produce was exported to over 95 countries. But with the slowdown in the domestic industry, it is likely to increase up to 50 percent for the second half,’ said Heung Soo Lheem, MD and CEO, HMIL.
HMIL, which is currently celebrating its 10th Anniversary in India, will produce 530,000 units in this year, of which about 270,000 units will be exported. ‘From next year, we will increase our production capacity to 630,000 cars, including 20,000 CKD units, by starting a third shift,’ says Lheem.
HMIL currently exports Santro, Getz, i10 and Accent cars across the world. After the i20 is introduced in the Indian market, it will replace exports of the Getz. Meanwhile, HMIL will also start exporting CKD kits to Turkey and other Asian countries from 2009.
[Via: Indiaautomotive]
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