Hyundai Motor Group (currently the largest exporter of cars), expressed its desire to expand its business operations into various sectors like railways and construction in India.
During the meeting of Hyundai Motor Group’s chairman Mong-Koo Chung with Indian Prime Minister Narendra Modi, Mr. Chung said (addressing the Korea-India’s mutual economic development)that, he hopes that Hyundai Motor Group will continue its cooperation with India in other sectors, such as construction and railway in the near future.
Thanking the Indian government for its enormous support in Hyundai Motor’s growth in India, Mr. Chung further says that the Chennai plant is a sheer symbol of Korea-India economic cooperation.
During the meeting, Mr. Narendra Modi said that “Hyundai Motor plays a key role in India’s auto industry. India will actively seek possible ways to continue its cooperation with Hyundai Motor. I hope Hyundai Motor will become a leading global company through its success in India.”
Hyundai Motor, at present sells around 4 lakh vehicles (per year) in India. The Hyundai’s plant in Chennai has a capacity for producing almost 6.5 lakh units operating on three shifts.
In 2001, the company started its railway business in India as ‘Hyundai Rotem’, whereas in the construction sector alone, the Hyundai Motor Group has successfully secured business in harbors, bridges and power plants.
Hyundai Motor Group is now centered at expanding its business as the Indian government is now seriously and actively investing in infrastructure projects.