Hyundai Motor India has set a target to produce more than 1 million vehicles every year, by 2020-2021.
The new target will be twice the current production numbers for Hyundai.
Hyundai Group getting all ready to announce the India entry of their subsidiary, Kia Motors. Once Kia is launched, Hyundai India is expected to become the third largest automaker in the country by 2020-21.
Kia is expected to bring additional sales of two lakh cars for the Hyundai Group in India. According to the report surfaced on ET Auto, Kia's setting up a plant in India was an initiative started by Hyundai Group Chairman, Chung Mong-Koo.
"The new factory from Kia will offer Hyundai additional capacity at zero fixed cost, whereas for Kia itself, the break-even point will be reached faster due to combined capacity utilization," said the person, while requesting anonymity.