In New Delhi on Tuesday, Hyundai Motor Group executive chair Euisun Chung met with Prime Minister Narendra Modi to announce a $15.5 billion investment in India covering 2026‑2032, expanding manufacturing, R&D and future mobility.
The plan will set up a dedicated investment entity in India to steer capital deployment and forge strategic partnerships. It will inject roughly $700 million into the group’s Indian R&D hub, adding a new vehicle test track and accelerating next‑generation technology development.
Supplier development is a core pillar. Hyundai will bankroll local suppliers, emerging mobility startups, EV‑charging stations, vehicle recycling programs, and automotive financing ventures. The company says the move will support the domestic supply chain and reinforce India’s status as a global production hub.
Analysts say the investment could generate up to 15,000 jobs across manufacturing, engineering and logistics. A 35‑year‑old mechanic from Chennai, who has worked in Hyundai plants for 12 years, said he expects better training and higher wages as the expansion rolls out.
The investment aligns with India’s "Make in India" agenda and Hyundai’s long‑term strategy, as the country accounts for more than 40% of the group’s global sales. Hyundai’s annual production capacity in India tops 1.4 million vehicles, a figure that will climb with the new facilities.
The final stage involves a formal ratification of the investment plan by the Indian government, slated for a parliamentary vote next month. Once approved, Hyundai will kick off construction of the new R&D center in early 2027.