The story
History
In the early 1990s, the Indian automobile market had only five major automobile manufacturers: Maruti Suzuki, Tata and Mahindra, Hindustan, Premier. Maruti Suzuki had a near monopoly over the passenger cars segment. Tata and Mahindra were solely utility and commercial vehicle manufacturers, while Hindustan and Premier both built outdated and uncompetitive products. Daewoo had entered the Indian automobile market with Cielo just three years back, while Ford, Opel and Honda had entered less than a year back.
Hyundai Motor India Limited was formed on 6 May 1996 as a wholly owned subsidiary of Hyundai Motor Company of South Korea. Its first manufacturing plant was constructed in Irungattukottai near Chennai, Tamil Nadu. Its first car, the Hyundai Santro, was launched on 23 September 1998 and was a runaway success. Within a few months of its inception, HMIL became India's second-largest automobile manufacturer and the largest automobile exporter.
Mr Yang Soo Kim was then the managing director of Hyundai Motor India. The Indian counterpart leadership team was managed by Mr AP Gandhi, Mr BVR Subbu and Mr G.S. Ramesh. Mr AP Gandhi was the president for a few years of inception. Mr BVR Subbu was the marketing director responsible for dealer development and sales. He resigned from Hyundai Motor India in 2006.
HMC has set up a research and development facility (Hyundai Motor India Engineering – HMIE) in the cyber city of Hyderabad.
As HMC's global export hub for compact cars, HMIL became the first automotive company in India to achieve the export of 10 lakh cars in just over a decade. HMIL currently exports cars to more than 87 countries.
In July 2012, Arvind Saxena, the Director of Marketing and Sales stepped down from the position after serving the company for seven years.
In August 2018, Rakesh Srivastava, Director of Sales and Marketing at Hyundai India, resigned from his position after serving for six years.
On 4 December 2018, Hyundai Motor India Ltd, announced the top-level management changes immediately. Seon Seob Kim assumed the responsibilities of MD and CEO from Young Key Koo.
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In 2019, Hyundai Motor Company invested around 1.1 trillion KRW in an additional EV production line and began manufacturing Kona Electric.
In 2022, Hyundai Motor India Limited receives about 85% of its electrical power as eco-friendly energy from external power plants. Moreover, it is currently installing a stationary solar power system of 1.9MWp using the module factory's roof with a size of 13,028m².
On 15 June 2024, Hyundai Motor India filed a draft prospectus with the Securities and Exchange Board of India seeking approval for an initial public offering.
AS of 2025, HMIL is the second largest passenger car exporter and the second largest car manufacturer in India.
Hyundai Motor India Foundation
In 2021, the Hyundai Motor India Foundation (HMIF), the philanthropic arm of Hyundai Motor India Ltd., announced a new initiative, Art for Hope. It will work towards encouraging artists across various domains like digital arts, crafts, multidisciplinary arts, performance arts and visual arts. The project is scheduled to begin October 2021. Selected artists will get an opportunity to exchange ideas, complete an art project and be mentored by key industry people. The final projects will be displayed in art shows across India.
From Wikipedia’s article on Hyundai Motor India, shared under CC BY-SA 4.0.4
