Hyundai Motor CEO Muñoz Reaffirms Plans for EV Expansion in India to Support Global 2030 Target

Hyundai Motor India Limited (HMIL) held a town hall meeting at its headquarters in Gurugram on March 4, 2025, featuring José Muñoz, President and CEO of Hyundai Motor Company (HMC).  During the session, Muñoz emphasized India’s role as a key automotive manufacturing and export hub for Hyundai’s global operations.

He highlighted the company’s commitment to expanding its presence in the Indian market through continued investment in new products, advanced technology, and an enhanced focus on customer service. He also reaffirmed Hyundai’s support for the ‘Make in India’ initiative and its contribution to building a ‘Viksit Bharat.’

Muñoz acknowledged HMIL’s position as the second-largest passenger vehicle manufacturer in India and noted that India ranks as the third-largest market within Hyundai’s global operations. He stated that HMIL’s initial public offering (IPO) has provided Hyundai with additional resources to invest in product development and production expansion in India. With the company approaching its 30th anniversary in India in 2026, he expressed confidence in HMIL’s ability to achieve further growth and set industry benchmarks.

Hyundai’s focus on sustainable mobility was another key point of discussion. Muñoz reiterated the company’s plan to expand its electric vehicle (EV) portfolio in India, aligning with its global target of selling 2 million EVs by 2030. He stated that India would play an important role in reaching this goal, and Hyundai would work to make EVs more accessible to Indian consumers while investing in the necessary infrastructure to support the transition to electric mobility.

To meet increasing demand, Hyundai’s upcoming manufacturing facility in Talegaon, Maharashtra, will strengthen local production capabilities. The facility is expected to contribute to both domestic sales and exports, reinforcing HMIL’s role as a global manufacturing hub.

Muñoz concluded by emphasizing Hyundai’s commitment to innovation, localization, and sustainable growth in India. He noted that the company would continue leveraging its global expertise and local resources to maintain its competitive position in the Indian automotive industry.