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Hyundai Motor India Ltd is positioning India as its largest global export base after South Korea. The company, which is currently focusing on exports to offset domestic challenges, is targeting an increase in the share of exports in its total volume to 30% by the end of this decade, up from the current 21%.
“Aiming to become Hyundai’s largest export hub outside South Korea, we aspire to continue our growth trajectory in exports in the coming years… Currently, our export portion is around 21%. We will increase it to 30% of our total volume capacity by 2030,” Hyundai Motor India MD & CEO Unsoo Kim told investors.
In the financial year 2025, Hyundai India’s exports remained flat at 1.63 lakh units. The company is now targeting a 7–8% growth in exports in the financial year 2026. Major mass-market carmakers in India are now betting big on exports to emerging markets, as they help offset the impact of sluggish growth in the domestic market.
“Exports have gained strong momentum in recent months, and we aim to sustain this trajectory going forward. For the financial year 2026, the company is targeting 7–8% growth in exports, supported by robust demand from our emerging markets,” Kim said.
Recently, India’s largest carmaker, Maruti Suzuki, also noted that it is increasing its focus on boosting exports, with 20% year-on-year growth expected in the current year, up from 3.3 lakh units exported last year. Maruti Suzuki has set a target of exporting over 7.5 lakh vehicles annually by the end of the decade.
Hyundai India stated that the automaker holds the number one position as India’s leading car exporter on a cumulative basis and is betting more on demand from emerging markets to boost volumes.
“Emerging markets have significant demand potential, and Hyundai India serves as a manufacturing hub for markets such as the Middle East, Africa, South Asia, and Latin America. Our current model lineup is very suitable for these markets, so we are very confident about exports,” Kim added.
The automaker is currently exporting to more than 80 countries and is exploring advanced markets such as Australia.
Hyundai India currently has an annual manufacturing capacity of 824,000 units across its two integrated manufacturing plants in Sriperumbudur, Chennai. The automaker also acquired another plant in Talegaon (Maharashtra) from U.S. carmaker General Motors, which it expects to start production in the third quarter of FY25.
Once the Talegaon plant is fully operational, Hyundai’s total production capacity in India will increase to 10.74 lakh units. India is the third-largest market for Hyundai. A quarter of the 1-million-unit capacity addition planned by the Korean parent company by the end of this decade is expected to come from India.
Additionally, Hyundai India is gearing up to introduce 26 new models by the end of this decade. This ambitious rollout includes 20 ICE vehicles and six EVs—a mix of all-new models, full model changes, and product enhancements. This enhanced product lineup and expanded production capacity are expected to provide significant headroom for Hyundai India to boost its exports going forward.
This article first appeared on Autocar
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