Hyundai's $5 billion bet on India: EVs, luxury cars coming
Hyundai just announced a massive $5 billion plan to supercharge its presence in India by 2030.
The focus? Expanding factories, ramping up local R&D, and rolling out new models—including electric vehicles made right in India.
The announcement, made at a media roundtable in Mumbai, really puts India at the heart of Hyundai's future plans.
Genesis and financial services on the cards
Hyundai's Global President Jose Munoz summed it up: "India is not part of the strategy—India is the strategy."
Most of the money will go into product development and innovation, with the rest boosting production capacity.
Hyundai will also bring its Genesis luxury brand and financial services to India, aiming to lead the shift toward clean mobility.
As COO Tarun Garg put it, India's policies—like low taxes on EVs—make it the perfect place for Hyundai to go all-in on electric.