IBEF: January 05, 2021
On Monday, Hyundai Motor India Ltd (HMIL) stated it has begun exporting its all-new premium i20 hatchback as it continues to reinforce its 'Aatmanirbhar Bharat' engagement. The first batch of 180 new i20 cars will be delivered to South Africa, Chile, and Peru, respectively.
The company launched the fourth generation of the i20 model in India in November 2019, priced between Rs. 6.79 lakh (US$ 9.29 thousand) and Rs. 11.17 lakh (US$ 15.29 thousand).
First introduced in 2007, the i20 was famous in global markets, with a total of 5.16 lakh units exported by HMIL until November 2020.
HMIL Managing Director and CEO, Mr. S S Kim said, “With the start of exports of the all-new i20 on the global markets, we are pleased to mark our strong commitment to 'Make in India'. Since its first release, with 5.16 lakh exports, the i20 is already a brand to be expected even in the international markets.”
India's largest exporter of automobiles, HMIL, stated that it crossed the 30-lakh export threshold for vehicles earlier in 2020. Currently, the company sells cars across five continents to 88 nations.
A total of 98,900 units were exported by the company in 2020, compared to 1,81,200 units in 2019.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.