Hyundai plans to make India a production hub for exports to emerging markets

Hyundai is aiming to make India a manufacturing hub for its exports to emerging markets such as Africa and neighbouring countries. Hyundai currently exports made-in-India passenger vehicles to different countries. Now, the automaker is aiming to ramp up the effort to increase its export volume and grab a larger market share globally.

Hyundai Motor India Managing Director Unsoo Kim has said that the auto company is looking to diversify its export markets as the OEM continues to face challenges regarding shipments to regions like the Middle East due to the geopolitical issues in the Red Sea and other regions. "We are positioning the company as a production hub for emerging markets. We are manufacturing and exporting our cost-optimised vehicle to the emerging markets," Kim told PTI.

He also noted that a balanced mix of domestic and export volume will not only give Hyundai good profit but also a natural hedge against any market fluctuation. "We have a very suitable product lineup for emerging markets," Kim said. The Hyundai India MD further said that the auto company witnessed growth in almost all regions like Africa, Mexico and Latin America. "However, the Middle East continued to face headwinds due to the Red Sea crisis. We will be closely monitoring the situation and will also plan to mitigate the risk by focusing on other regions," he further added. Besides the abovementioned markets, Hyundai India is also looking to enhance its exports to neighbouring countries like Nepal, Bangladesh, Bhutan and Sri Lanka.

In the October-December quarter of the current financial year, Hyundai exported 40,386 units of passenger vehicles from India to other international markets. This marked a decline for the OEM as the company shipped 43,650 units of passenger vehicles in the same quarter last financial year. In CY2024, Saudi Arabia, South Africa, Mexico, Chile and Peru emerged as the largest export markets for the auto company by volume. Hyundai India exported a total of 158,686 units of passenger vehicles in CY2024.

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