Hyundai India to Grow in Line with Market in FY26; Targets 7–8% Export Growth; Invest Rs 7000 crore

Hyundai Motor India Ltd (HMIL) on Thursday said it expects to grow broadly in line with the domestic passenger vehicle market in FY26. It is targeting 7–8% export growth and laying out an ambitious roadmap of 26 new product launches by FY2030. The strategy includes a mix of internal combustion engine (ICE), electric vehicles (EVs), and hybrid powertrains, with a sharper focus on SUVs, premium offerings, and rural expansion.

The company plans capital expenditure of Rs 7,000 crore during FY26, with a significant portion of it - 40% - for the expansion of manufacturing in Pune, while 25% of it will be allocated to enhancing the product portfolio, Hyundai India told reporters.

“For the financial year 2026, we endeavor to grow broadly in line with the industry, driven by our strong SUVization and premiumization strategy, along with a focus on rural markets,” said Unsoo Kim, MD & CEO of Hyundai Motor India.

The company acknowledged near-term domestic demand remains subdued, but remains cautiously optimistic, citing recent RBI rate cuts and income tax relief as factors that could support market recovery.

Exports, meanwhile, have shown strong momentum, with Hyundai projecting 7–8% growth in FY26 due to demand from emerging markets.

“We anticipate the growth in export volume to be around 7 to 8 percent, supported by robust demand for our products in the emerging markets,” Kim added.

As part of its long-term product strategy, Hyundai has committed to 26 new model launches by FY2030, including 20 ICE vehicles and 6 EVs.
“We are excited to announce that we will be launching 26 products by FY2030, including a mix of new models, full model changes, and product enhancements—comprising 20 ICE vehicles and 6 EVs,” Kim said. “These aggressive and strategic launch plans demonstrate our strong commitment to innovation, the Indian market, and delivering sustained value to our customers.”

In the near term, Tarun Garg, COO of Hyundai Motor India, confirmed that the company will roll out eight new models over the next couple of years, a mix expected to include hybrids. This will mark Hyundai’s formal entry into this emerging powertrain segment.

The company also pointed to the positive response to the Creta Electric, which debuted in FY25, as a strong foundation for Hyundai’s electric mobility play in India.

HMIL has announced a Rs 21 per share dividend for FY25, representing a 30% payout ratio, and said it is in the process of drafting a formal dividend policy. The company will host its first Investor Day in September 2025, where it will present its medium-term growth strategy, EV plans, and further product details.