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In recent years Hyundai India has been rolling out some successful products into the Indian market and with expansion plans in place and new models scheduled for launch in the coming years, Hyundai scouting for a location to open another plant in India. This will not only increase its production units, but also provide faster deliveries. Also Read - New Hyundai Creta 2018 Spy Images Emerge; India Launch Soon
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Though the company has denied any such plans, multiple reports suggest that Hyundai officials are currently in talks with the state government of Rajasthan to get approvals to set up a manufacturing plant in the region. Reportedly Hyundai is in touch with officials at the Bureau of Investment Promotion (BIP) of Rajasthan, an agency in charge of investment promotion and single window clearances. Also according to BIP, Rajasthan, they provide services, which are focused on investments above Rs 10 crore in the state.
Currently, the entire load of domestic and export production is borne by Hyundai’s Chennai plant. A second manufacturing facility, if opened in either the northern or western regions, would give Hyundai an opportunity to offer better and timely deliveries of its cars across the country.
Hyundai India’s annual capacity stands at 6.80 lakh units from the Chennai facility, with 91 percent of the capacity utilised. The company is also working to launch products in newer segments and has the ix25 compact SUV and the Elite i20 Cross lined up for launch, with an MPV is on the cards. The new facility will aid Hyundai to expand its domestic market share from the current 21 percent without having to compromise on exports as the Indian market promises exponential growth in the long term.