Hyundai Motor India Ltd (HMIL) will invest Rs 45,000 crore and roll out 26 models by FY2030. The announcement, made by Hyundai Motor Co President and CEO Jose Munoz during HMIL’s first Investor Day on Wednesday, comes as the Korean car brand faces immense competition from local car manufacturers Mahindra & Mahindra and Tata Motors.
Further, HMIL has set a target of up to 30% export contribution, increase its revenues by 1.5 times and cross the Rs 1 lakh crore milestone by FY2030 under its 2030 growth roadmap. Hyundai would also be introducing its luxury brand Genesis in the Indian market in 2027.
In the proposed 26 launches by FY2030, seven will be new nameplates, including HMIL’s entry into the MPV and off-road SUV segments. The company is all set to launch the updated compact SUV Venue on November 4.
Hyundai has also set a target for SUVs to contribute over 80% to its portfolio by FY2030. SUVs accounted for 68.5% of domestic sales in FY2025. HMIL’s roadmap also includes plans to launch India's first locally manufactured dedicated electric SUV by 2027. Hyundai expects eco-friendly powertrains, including CNG, hybrid and electric vehicles, to account for more than 50% of its portfolio by FY2030.
“Following our landmark IPO last year and 29 years of success in India, now HMIL plans an investment of ₹45,000 crores through FY2030 to drive the next phase of growth. India is a strategic priority in Hyundai’s global growth vision. By 2030, HMIL will be our second-largest region globally,” said Munoz. 60% of the investment will be on product and R&D, and the remaining 40% on capacity and upgradation.
He added, “The fundamentals are strong. The strategy is clear. The team is energized. And most importantly, we have the trust of Indian customers built over 29 years. It's a great time to be at Hyundai Motor India.”
Tarun Garg, Whole-time Director & COO, HMIL, said that they have set a target to achieve 15%+ market share in the domestic market. He added, “We are set to become one of the very few mass-market OEMs in India to offer a comprehensive range of powertrain options spanning ICE, CNG, EV and Hybrid technologies with more than 50% of our portfolio powered by cleaner and more sustainable technologies, reflecting our commitment to future-ready mobility.“