Hyundai Motor Group to invest $15.5 billion in India by 2032
Summary
After meeting Prime Minister Modi in New Delhi on 13 October, Executive Chair Euisun Chung announced $15.5 billion of investment in India over seven years, 2026–2032.
Key points
- Capacity will grow at Hyundai's Chennai and Pune plants and Kia's Anantapur plant, which together make over 1.4 million vehicles a year today.
- About $700 million goes to the Indian R&D centre, including a vehicle test track.
- The group will invest in local partners to build a more resilient supply chain.
- It will also explore EV charging, auto finance, end-of-life vehicle recycling and startup support.
- A dedicated investment entity will be set up in India. The group already employs more than 24,000 people there.
What it means for Korean companiesAffiliates such as Hyundai Mobis, Transys and Wia move with the group, so demand for plants and warehouses around Chennai and Pune is likely to rise.