Hyundai Motor rolls out three millionth car from Chennai plant

Hyundai Motor India Ltd (HMIL), the country's largest passenger vehicle exporter, on Thursday marked the production of its three millionth export car with the launch of its new sub-4 metre compact sedan Aura at its Irrungattukottai factory near Chennai.

Aura (named Grandi10 for exports) is the three millionth car introduced by the company. This is launched for the Colombian market. Though, the car was earlier introduced for the Indian market on January 21.

Mr SS Kim, Managing Director and CEO, HMIL, termed the company's latest achievement as "the fastest made-in-India 3-millionth export roll out."

In the last 21 years, cumulatively, the Chennai factory has manufactured over nine million cars both for domestic and export markets.

The company began its export journey in 1999 from the country with the first batch of 20 Santro to Nepal and achieved the first milestone of exporting 1,00,000 cars in four years and ten months in October 2004.

In March 2008, the company exported its 500,000-car followed by its one millionth car and two millionth car in February 2010 and March 2014, respectively.

The company has maintained its position as leader in the export of passenger cars from India for over the past two decades.

Currently, the company sells 10 'Made in India' models in over 88 countries that includes Latin America (33 countries), Africa (28 countries), Asia Pacific (26 countries) and Europe (1 country).

In APAC region, in particular in Saudi Arabia market, both Creta and Accent hold the segment leadership with 40 per cent and 33 per cent market share, respectively. In Nepal, Hyundai is the leading brand in the overall passenger car market with a market share of 29 per cent. In the African region, specifically in Libya, Hyundai claims the no.1 position, holding 80 per cent of the market share.

"The Chennai factory, as an export hub, will gain greater prominence with the Hyundai Motor Group. We will continue to focus on shipping assembled vehicles, parts and components in CKD format and power trains to emerging markets," said Mr Kim.

Hyundai Motor India has exported 1,81,200 units with 792 customised variants according to country-specific preference and demand in 2019.

The company has invested around Rs 24,000 crore (US$ 3.43 billion) at its manufacturing operations near Chennai over a period of two decades. An Additional investment of Rs 7,000 crore (US$ 1 billion) was also announced by the company for new product launches, new technology and powertrain enhancements.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.