Car maker Hyundai Motor India Ltd will expand its capacity by 50,000 units. It also plans to launch nine new models and invest around Rs 6,500 crore, said a top company official.
He also said the company will launch a electric powered sedan or a sports utility vehicle (SUV) and it plans to import the charging kits from Korea.
He said the company is not playing a volume game in the Indian market by increasing capacity in big number. However, it might become a one million car maker in India after 2020.
Speaking to reporters late Thursday, Y.K.Koo, Managing Director said Hyundai Motor would be increasing its production capacity by 50,000 units per month by stretching its manufacturing process and debottlenecking activities.
A company official told IANS that the idea is to get assembled items from the vendors than as single components which in turn would save time and increase output.
Koo said in 2017, the company produced 6.78 lakh units as against 6.65 units in 2016.
Hyundai Motor India plans to roll out and sell seven lakh units in 2018 and 7.5 lakh units in 2019.
He said a new plant will be viable only if its capacity is 200,000 units per annum and the company would decide on its need after 2020.
The nine models that would be launched over the next three years would be a mix of new models, facelifts and the electric car.