Hyundai Motor Group to invest USD 15.5 billion in India by 2032; says India key driver for growth

South Korean automaker Hyundai Motor Group on Tuesday said it will invest USD 155 billion in India by 2032 positioning the country as a key driver for future growth according to news agency PTIThe sevenyear investment plan includes manufacturing expansion research and development RampD infrastructure development local supplier cultivation for parts localisation and future technology innovationHyundai Motor Groups Executive Chair Euisun Chung met Prime Minister Narendra Modi to discuss Indias automotive industry future and longterm growth strategy the company said in a statementThe initiative was discussed during a meeting between Indian Prime Minister Narendra Modi and Hyundai Motor Group Executive Chair Euisun Chung at the Prime Ministers Office in New Delhi on October 13 2026 reflecting the Groups commitment to strengthening its presence in India and contributing to the automotive sectors growth it saidHyundai to set up a dedicated investment entityHyundai Motor Group will establish a dedicated investment entity in India which will systematically coordinate and execute investments across RampD infrastructure future technologies and the broader automotive industry ecosystem Besides it will also help to identify local partners support strategic partnerships and foster collaboration with local suppliersIndia remains one of Hyundai Motor Groups most important and strategic markets globally The past 30 years have been defined by our commitment to India This investment reaffirms our commitment to India for the next 30 years and beyond Through this investment we will create more employment opportunities and work together with our partners and stakeholders to support Indias continued industrial development said Euisun Chung Executive Chair Hyundai Motor GroupHyundai Motor Group which employs more than 24000 people across India said the proposed investment is expected to create employment opportunities across manufacturing RampD engineering and supply chain sectorsInvestment in Research and DevelopmentThe automaker will invest in RampD Infrastructure and Technology with plans to establish a complete RampD system in India through infrastructure expansion and local talent cultivation It also aims to enhance technological competitiveness through the Groups RampD centre in IndiaWith approximately USD 700 million investment planned in the RampD centre including its vehicle testing track the Group will accelerate nextgeneration automotive technology development and establish India as a core innovation hub it saidManufacturing expansionThe Group will build a comprehensive automotive ecosystem in key areas including manufacturing expansion and plans to expand production capacity across Hyundai Motor India and Kia India to support significant volume growth It added that localisation will be the key to meet Indias market demandsThe manufacturing expansion will also position India as an export hub for the firmBesides it will strengthen the local supply chain and support supplier development in India through strategic investments in regional partners which will enhance parts localisation and build a stable resilient supplychain ecosystem across the Indian automotive industryThe Group aims to lead Indias future mobility ecosystem through strategic investments in emerging opportunities This includes support for highpotential startups and expansion into new mobility services integrated with its core vehicle business it saidMoreover it will also explore opportunities in new business verticals including specialised automotive financing EV charging infrastructure and endoflife vehicle recycling according to PTIWith inputs from PTI