Latest News
- Electric Vehicle Drivers Could Gain Hundreds Of Miles Yearly With Proper Tyres
- Royal Enfield Unveils Revolutionary Rentals & Tours Service: Check Out All Details Here
- MG Motor UK Unveils Cyberster Trophy And GT: The Future Of Luxury EV Roadsters
- Bentley Motors Debuts Mulliner Bespoke Creations At Auto China 2024
- UK CV Production Achieves Best First Quarter Since 2008 Amidst Export Surge
- Everrati's New B2B Division Sees Surge In Global Luxury Brand Deals
- Bajaj To Offer Chetak Electric Scooter At Lower Price Point: All Details Here
- Isuzu UK Teams Up With ARB UK For New ARB HUB Dealer Programme
- BMW i5 M60 xDrive Launched In India At Rs 1.195 Crore - 592bhp, 516km Range
- Global NCAP Lauds Tata Motors - A 5-Star Journey
Hyundai To Stop Exports To Europe
Hyundai, the Korean car manufacturer and India's largest car exporter has stopped building and exporting cars to Europe from the Chennai factory. Hyundai will concentrate on manufacturing here to cater to the needs of the Indian market.
Taking this step, the company will drop their export numbers by 25 percent, from 2.53 lakh units to 1.9 lakh units.
Hyundai, being the largest exporter of cars in India, accounts for 45 percent of the country's total car exports.
Also Read: Hyundai Elite i20 Launched In India
The company's manufacturing facility in Chennai has the capacity to manufacture 6.8 lakh cars per year and the factory was running at 98 percent usage for exporting cars.
Hyundai will start making the European-spec cars, the i10 and the premium hatchback i20 in their plant located in Turkey and the Czech Republic.The all-new Elite i20 will be manufactured here as well.
After the launch of four new models since last year, the Korean carmaker wanted more room to make these models here in Chennai which are sold in the Indian market.
Hyundai will still keep India as its global export hub for small cars. They will still export cars to Latin America, Middle East, Asia and Australia from the Chennai plant.
DON'T MISS: VIDEO OF THE DAY