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Hyderabad base for Hyundai R&D
24 April, 2007
In a short period from now, the
booming South Indian city of Hyderabad
will see a Hyundai research and
development centre coming up. The car
maker will launch its various
developmental wings from this centre
in future, said a report.
Hyundai Motor India Ltd (HMIL) has
firmed up plans in this regard with
the Andhra Pradesh government offering
land for the purpose. The car maker
which posted total sales of 2,99,513
vehicles, showing an increase of 18.5
per cent against 2005, boasts of a
market share of 16.9 per cent.
Besides, in a bid to position India as
the global exports hub for compact
cars by its parent company Hyundai
Motor, the company is also pumping in
Rs 600 crore to expand capacity. It is
also expected to set up its second
plant which will produce an additional
three lakh units per annum, raising
the total production capacity to 6
lakhs units per annum by end of this
year.
Meanwhile, not far away, in China, the
Beijing Hyundai Motor Co, Hyundai
Motor's venture in China, plans to
open its second vehicle plant in the
first quarter of next year to tap
rising demand in the world's
second-largest auto market. The
company plans to have a plant with
initial capacity of 200,000 vehicles a
year. This will be pushed up to which
will rise to 300,000 in the second
phase. This apart the company also has
lined up a new engine plant here,
which will open in May 2007.
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