Look out, China! The next automotive gold rush is all about India. Hyundai, the South Korean giant, is doubling down on Asia’s other auto titan, steering billions toward new factories, batteries, and bold EV launches on the subcontinent. While Hyundai’s China fortunes have flatlined thanks to fierce local competition and market hurdles, India is emerging as the mothership’s true star.
Hyundai’s global CEO, José Muñoz, set the record straight: India is “more important to us than China.” That’s not mearly boardroom talk; Hyundai will sink roughly ₹45,000 crore (about $5.1 billion USD) into the country by 2030. Plans include 26 new models, with eight fresh hybrids and five quick-charge electric vehicles, all rolling out from beefed-up manufacturing hubs in Pune and Chennai.
Why is India the darling? First up: blistering growth. India, now the world’s third biggest car market, expects sales to soar past 5.6 million vehicles a year by 2030, and Hyundai aims for a chunky 15% market share. With a hunger for SUVs, hybrids, and affordable EVs, Indian buyers are snapping up new options faster than supply can keep up a refreshing change from the crowded, cutthroat Chinese market where local brands reign and rules change on a whim.
Hyundai’s vision doesn’t stop at the showroom. By 2030, they want up to 30% of Indian output exported worldwide. The company’s commitment goes deep: a new lineup for the Indian market, a rollout of the Genesis luxury brand, a network of 600+ fast-charging stations, and a huge bet on local battery assembly.
With support for “Make in India” localization and the appointment of Tarun Garg as the first Indian national CEO, Hyundai is putting India at the center of its long-range radar. Every announcement, from homegrown EVs to hybrid SUVs, shouts one message: for Hyundai, the road to future profits runs through India, not China.