"We have been exporting cars from the Chennai facility to 88 countries including Africa, Middle East, Latin America and the Asia Pacific. There is growing interest from countries like South Africa, Saudi Arabia and others. We are expecting that the exports from Chennai will be growing," said SS Kim, Managing Director, CEO, HMIL.
He said that the company has invested around Rs 24,000 crore in India into infrastructure enhancement and technology. It has further committed to invest Rs 7,000 crore into new products and technology.
During 2019, the company exported 181,200 units with 792 customised variants according to the country-specific preference and demand. The company currently exports 10 models including Atios (Santro), Grand i10, Xcent, Grand i10 (NIOS), Etios i20, Creta among others.
Hyundai aims to export 2,00,000 units in 2020
The company is expected to roll out a mass market electric vehicle product in two to three years and hopes the second half of the year to show imporvement in domestic market despite concerns about the comparitively higher price for the BSVI models. There might also be excitement among the customers on the new technology, said Tarun Garg, director, sales and marketing division, Hyundai Motor India Ltd.
With some of the diesel vehicle manufacturers planning to stop productions in the wake of BS VI implementation, the company is expecting a growth in the market, but the demand may not be fully met initially considering the lack of adequate capacity available.