South Korean Hyundai Motor Group has pledged to invest $15.5 billion in India between 2026 and 2032 through a dedicated investment entity, covering manufacturing expansion, research and development, local supplier development, and startup investments, the group announced on Tuesday. This commitment includes both Hyundai Motor India and Kia and was discussed during a meeting between executive chair Euisun Chung and Prime Minister Narendra Modi in New Delhi.
The investment is Hyundai Motor Group's largest pledge for India and follows Hyundai Motor India's ₹27,870 crore initial public offering in October 2024. At Hyundai India's first investor day in October last year, the company had committed $5.4 billion in investment through fiscal year 2030. The latest announcement aims to create additional employment opportunities across manufacturing, R&D, engineering, and supply chains, according to the group's statement.
This commitment underscores the growing interest of global automakers in India, following a ₹77,500 crore five-year investment pledge by Japanese automaker Suzuki in August. Hyundai Motor Group described India as one of its most important and strategic markets globally, emphasizing its 30-year commitment to the country. The investment is expected to strengthen Hyundai's manufacturing and innovation capabilities in the region.
Executive Chair Euisun Chung stated that the investment reaffirms Hyundai Motor Group’s commitment to India for the next 30 years and beyond. The group’s investment plans cover both Hyundai Motor India and Kia, signaling a long-term strategic focus on expanding its footprint in the Indian automotive sector.