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Leading automobile company, Hyundai Motors India Ltd (HMIL),will invest upto $600 million for capacity expansion and product development. Most of the companys new investment would be directed towards capacity expansion at its plant Hyundai India which currently owns a capacity of about 2,50,000 units, plans to hike this upto about 4,00,000 units by middle of 2007. Hyundai said it would also be increasing its workforce by 2,000 which would take its overall strength to 8,000.S S Yang ,managing director ,Hyundai said the company planned to increase research and development work that it carries out from India. And as part of it ,the company would train Indian engineers in South Korea before bringing them back. Although the companys sales have gone down in June and July in this fiscal, B V R Subbu, president, Hyundai Motor India Ltd, said that was primarily due to shift in consumer spending ,higher interest rates, and increasing fuel prices.
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| Posted : 11/19/2005 |
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