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Korean automobile major, Hyundai Motor, plans to set up a new commercial vehicles plant in Pune, Maharashtra. The company officials have been visiting the area to finalise the location, as well as having discussions with the state government regarding the proposal. Hyundai plans to launch the line of trucks in 2007. According to sources Pune, will be an advantageous location as, the largest markets for commercial vehicles in India are Maharashtra, Gujarat, and Madhya Pradesh. Recently Jae-ll-Kim, vice president, Hyundai Motor Corporation, said that the company was looking at entering the commercial vehicle segment in India. Although Hyundai manufactures light, small, medium, heavy trucks, and buses, it is believed that they would launch only trucks in India, in the near future. The company is boosting its passenger cars capacity to four lakh per annum, with an investment of over $550 million. Hyundai have recently begun work on its second plant, at Chennai, which will have a capacity of 1.5 lakh units per annum. |
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| Posted : 9/1/2005 |
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