Hyundai Motor Group on Tuesday announced plans to invest $15.5 billion in India by 2032, signalling its long-term commitment to the country as a major market for its future expansion.
The investment programme, spanning seven years, will cover several areas, including around $700 million for research and development centre in India. It will also reportedly fund higher manufacturing capacity and the establishment of a dedicated investment entity.
“The initiative was discussed during a meeting between Indian Prime Minister Narendra Modi and Hyundai Motor Group Executive Chair Euisun Chung at the Prime Minister’s Office in New Delhi on October 13, 2026, reflecting the Group’s commitment to strengthening its presence in India and contributing to the automotive sector’s growth,” the Group said, according to PTI.
“With approximately USD 700 million investment planned in the R&D centre, including its vehicle testing track, the Group will accelerate next-generation automotive technology development and establish India as a core innovation hub,” it added.
India, the world’s third-largest automobile market, has emerged as an important destination for global carmakers looking to benefit from growing consumer demand and strengthen their local production networks.
Hyundai had announced a separate investment of $5 billion in India last year to scale up its manufacturing and research activities.
Other international automakers are also increasing their commitments to the country. Suzuki Motor, which holds a majority stake in India’s largest carmaker by sales, outlined investment plans worth around $8 billion in 2025. Toyota and Honda have also announced plans to expand their manufacturing operations in India.
Hyundai Motor, which has a workforce of more than 24,000 in India, said the latest investment would generate further employment opportunities in manufacturing, research, engineering and supply-chain operations. However, it did not specify how many jobs would be created.
The investment roadmap for 2026-2032 will also involve increasing production capacity at Hyundai and Kia India, with the aim of supporting substantial growth in vehicle volumes.
The proposed investment will also go towards setting up a vehicle testing facility, aimed at supporting the development of advanced automotive technologies.
The announcement came after Hyundai Motor Group Executive Chair Euisun Chung met Prime Minister in New Delhi on Tuesday.
Hyundai Motor Group currently has the capacity to manufacture more than 1.4 million vehicles annually in India. This includes 824,000 units at Hyundai’s Chennai-based facilities, 170,000 units at its Pune plant and 431,000 units at Kia’s manufacturing facility in Anantapur.
What did Euisun Chung say?
Chung asserted India continues to be among the group’s most significant strategic markets worldwide. He said the company’s three-decade presence in the country reflected its commitment, adding that the latest investment would strengthen its long-term association with India.
He also said the investment would generate additional employment opportunities and enable the group to work with its partners and stakeholders to contribute to India’s industrial growth.
“India remains one of Hyundai Motor Group’s most important and strategic markets globally. The past 30 years have been defined by our commitment to India. This investment reaffirms our commitment to India for the next 30 years and beyond. Through this investment, we will create more employment opportunities and work together with our partners and stakeholders to support India’s continued industrial development,” said Euisun Chung, Executive Chair, Hyundai Motor Group.
(With inputs from agency)