Hyundai Motor Group, a South Korean automaker, said on October 13 that it plans to invest US$15.5 billion in India over seven years from 2026.

The announcement came after chairman Chung Eui-sun met Prime Minister Narendra Modi in New Delhi the previous day.

The group said the spending will go toward factories, research and development, the local parts supply network, and future technologies. It also plans to set up an investment subsidiary in India to back local companies and startups.

India’s duties on completely built-up imported cars could reach 100%. Those tariffs encourage automakers to build locally, and Hyundai also wants to use India as an export base for emerging markets.

India also has an auto production incentive program that supports local production and covers EVs and eligible components, including batteries and electric powertrains.

🔗 Source: Hyundai

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