Hyundai Motor India – the fully-owned entity of Korea’s Hyundai Motor Company – has commenced vehicle assembly operations in India’s neighbouring country Nepal, with a new 5,000-unit annual capacity plant set up in partnership with Nepal’s Laxmi Group.
The Laxmi Group, which is a leading Nepalese conglomerate with diversified business interests, has been the leading distributor for the Hyundai brand in Nepal since 2009. The company operates with its 16 main dealers across 15 towns in the neighbouring country. The new assembly plant is the first vehicle assembly plant in Nepal, and is likely to pave way for localisation and employment generation in the country.
The new plant was inaugurated today by the Nepalese Prime Minister – Pushpa Kamal Dahal – in the presence of Unsoo Kim, MD and CEO, Hyundai Motor India, and Tae-Young Park, Ambassador of the Republic of Korea in Nepal, among other dignitaries. The Hyundai Venue compact SUV is the first model to be mass produced from this assembly facility in Nepal.
According Unsoo Kim, MD and CEO, Hyundai Motor India, “We are immensely grateful to the Prime Minister of Nepal Pushpa Kamal Dahal and the Government of Nepal for their unwavering support. This plant in Nepal has an installed capacity of assembling 5,000 units annually, and the Hyundai Venue will be the first locally-assembled model to roll off the plant.”
“I would like to convey my sincere congratulations to the people of Nepal for this achievement. We look forward to more encouraging policies and incentives from the Nepal Government aimed at developing a conducive environment for local assembly,” added Kim.
The successful commencement of the first vehicle assembly plant in Nepal has been attributed to the essential support from Hyundai Motor Company (HMC), Korea, along with Hyundai Motor India, contributing their expertise in terms of advance technology and transfer of skills. As a result, while Laxmi Group, along with its local partners, will make and sell Hyundai cars in Nepal, customers can be assured of continued satisfaction and customer experience, with continued collaboration and support on products, technology, and quality projects from HMC Korea and Hyundai Motor India.