In a filing, Hyundai Motor India said it had signed a “mutually beneficial wage settlement agreement” with the United Union of Hyundai Employees (UUHE) for the period April 2024 to March 2027. The salary increase will be phased in over three years, with the ratio structured as follows: 55%, 25%, and 20%.
The agreement also extends “health coverage and advanced wellness programs,” the company said in a press release on Wednesday.
“This agreement, built on mutual trust, respect, and constructive dialogue, reflects our shared commitment to fostering a progressive workplace culture that prioritizes employee welfare and supports long-term organizational growth,” said Youngmyung Park, Function Head – People Strategy at Hyundai Motor India.
Workforce representation
The UUHE, registered in 2011, is the officially recognised representative body for Hyundai Motor India’s workforce. As of August 31, it had 1,981 members, representing 90% of the company’s technicians and workmen cadre.
Hyundai described the revised package as setting “a new benchmark in the automotive industry.”
Shares of the automaker have climbed 70% over the past six months, 11% in the last month, and are up 50% so far in 2025.
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