Hyundai Motor India said it will hike manufacturing ability by around 12% to 670,000 units a year at its Chennai factory.
The India’s biggest car exporter intends to lessen foreign shipments by 8% this year at 250,000 units to fulfill local demand.
H W Park Hyundai Motor India MD said, “We are making minor investment to increase our production capacity to up to 670,000 units per annum.” But he refused to give details regarding the quantum of investment the company intends to make for raising the manufacturing ability.
Currently HMIL can manufacture 600,000 units a year at its Chennai factory.
Regarding its sales target in the foreign markets, Park said: “We have fixed the export for this year at 250,000 units, slightly less than last year, as we are focusing to meet our domestic demand.”
He also said, “There will be no small engine for i10 or Santro.”
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