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Hyundai India To Invest In A New Facility To Boost Production
Hyundai is planning on investing more money into India to setup another facility. The manufacturer wants to make India their global hub for production and export of vehicles.
Korean automobile manufacturer wants to boost production up to a million vehicles from India. For this they will be investing INR 4,500 crore in setting up a new facility that will cater to this need.
Currently Hyundai has their facility in Chennai, however the new manufacturing unit could be set up elsewhere. States like Gujarat, Rajasthan and Andhra Pradesh are top runners to secure this deal.
Hyundai currently has an extensive portfolio on offer in India, with ten vehicles in various segments. They include Eon, i10, Grand i10, Xcent, Elite i20, i20 Active, 4S Verna, Elantra, Creta and Santa FE.
Maruti Suzuki is the only manufacturer that has capacity to produce one million vehicles. Hyundai will be the second manufacturer to expand its facility as well as up its export and output.
The Korean manufacturer plans to further increase its product lineup for India as well as global markets. Hyundai soon plans to introduce an all-new MPV along with a sub 4-metre compact SUV model.
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