“Following our landmark IPO last year and 30 years of success in India, HMIL now plans an investment of Rs 45,000 crore through FY30 to drive the next phase of growth,” Hyundai Motor Co President & CEO José Muñoz said at the company’s first investor day in India. About 60% of the investment will go toward product development and R&D, while the remaining 40% will fund capacity expansion and upgradation.
Hyundai plans to launch 26 products by FY30, including seven new nameplates, marking its entry into the MPV, off-road SUV, and hybrid segments. The automaker will also roll out a locally designed, developed, and manufactured electric SUV by 2027.
Muñoz announced that Hyundai Capital, its sales finance arm, will enter India by Q2 FY26 to bolster financing options, while its luxury brand Genesis will debut locally through assembly operations by 2027.
India at the center of strategy
“India is not part of the strategy — India is the strategy,” Muñoz said, underscoring the market’s growing importance in Hyundai’s global portfolio. “By being strong here, we are a strong OEM globally.”
The company has invested about $6 billion since entering India in 1996. The new commitment reflects India’s rising engineering capabilities, competitive cost structure, and robust domestic demand. Muñoz described India as “uniquely positioned” to lead the global EV transition, citing progress in nuclear and thorium-based energy.Hyundai Motor India Ltd (HMIL) aims to boost exports to 30% of sales and cross Rs 1 lakh crore in revenues by FY30, up from Rs 69,200 crore in FY25, while maintaining double-digit EBITDA margins of 11–14%.
Chasing the electric future
Hyundai expects 55% of its global sales to be electrified vehicles by 2030, including hybrids and plug-in hybrids, with EVs contributing 15–17%. “EV technology is here to stay,” Muñoz said. “We plan to produce all our EVs in India, ensuring competitiveness and profitability.”
However, the company remains flexible. “We are not here to tell customers what to drive — we will adjust to their demand. If they want hybrids, we will produce hybrids. If they want EVs, we will produce EVs,” Muñoz added.
Hyundai India’s newly elevated COO Tarun Garg highlighted government policy favouring EVs, noting that GST on EVs stands at 5% compared with 40% on hybrids.
Battling for market share
The renewed India push comes as Hyundai’s domestic market share slipped to 14% in FY25, its lowest since 2012–13, amid rising competition from Tata Motors and Mahindra & Mahindra.
Muñoz admitted that the company had been “a little too late” with new launches. “We’ve been very successful, but perhaps too comfortable. The pace of competition here has changed, and we are changing our pace too.”
Despite the dip, Hyundai remains focused on profitability. “There’s no point in growing market share if we don’t make money,” Muñoz said, describing the 15% market share target as ambitious but realistic.
Hyundai Motor’s India-listed stock has surged 33% since its debut last October, closing at Rs 2,420 on Wednesday. The company targets annual dividend payouts of 20-40%.
Also read | Hyundai to invest $5 billion in India by 2030, sets aggressive growth roadmap
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