Hyundai Motor India Limited, India's second largest car manufacturer, is planning to double its exports from India. Hyundai has already made India as its manufacturing hub for its small car models. It launched its newest car model i10 in India last year and has already bagged more than 1 lakh export order for its latest car. It shall roll out its new model for i10 powered by its advanced "Kappa" engine.
Hyndai India has exported to nearly 95 countries in Africa, EU, Latin America, SE Asia, etc. It has already increased its capacity to 600,000 units per annum at its second plant in Chennai. The company has allocated a budget of nearly $1 billion from 2006 to 2013 in a phased manner.
"Last year we exported 1.16 lakh cars and this year we are targeting 2.4 lakh cars," says Arvind Saxena, Senior Vice President, Sales and Marketing, Hyundai India. It sold 327,160 units in the 2007 registering a growth of 9.2 percent over the last calendar year 2006.
