Hyundai Motor India crosses 10 million production milestone
Hyundai Motor India has now produced over 10 million cars in India. Having begun operations with the Santro 25 years ago, the Korean carmaker has been the fastest to reach this milestone in India. The 10 millionth car to roll out of Hyundai's Sriperumbudur plant was a Hyundai Alcazar, the three-row derivative of the Creta and its latest offering in India.
Hyundai's operations in India has been one of the big success of foreign investment in the country. The carmaker has been a strong proponent of local production, having produced over 9 million cars in its plant already. Its Tamil Nadu factory has a production capacity of 7.5 lakh units annually and employs 15,000 employees. The company has invested USD 4 billion in its India operations so far and has generated indirect employment for over 2.5 lakh people in Tamil Nadu.
Hyundai took 7 years and 6 months to reach its first million sales in 2006 and 2 years and 7 months to reach the next million in 2008. But this has picked up pace rapidly since then, each subsequent million cars have taken no more than 1 year 9 months and no less than 1 year 6 months to produce. The company crossed the 9 millionth sales mark in 2019. Currently, Hyundai India has a 24 per cent share of the Indian car market, its highest ever. The company is also India's largest SUV maker, with over 1 million produced.
The brand is also the largest exporter of cars from India having exported 1,04,342 units