 |
|
Hyundai Motor India (HMIL), a prominent Korean-origin automotive manufacturer, has announced its intention to list on Indian stock exchanges, a move it believes will solidify its commitment to the Indian market. HMIL's president, CEO, and MD, Unsoo Kim, along with executive director and CFO Wangdo Hur, and whole-time director and COO Tarun Garg, have outlined the company's plans, emphasizing the strategic importance of the Indian market. This IPO is expected to propel HMIL's dedication to achieving success in the Indian automotive landscape.
The decision to list in India underscores Hyundai's confidence in the market's potential and its commitment to leveraging this opportunity. India's burgeoning automotive sector, characterized by rising consumer demand and favorable government policies, has attracted significant investment and attention from global players. Hyundai's strategic move positions them to tap into this growth and solidify their presence in this pivotal market.
Beyond its domestic focus, Hyundai is also open to exploring the potential for exporting electric vehicles (EVs) from India. This decision hinges on the emergence of demand in international markets, showcasing the company's strategic flexibility and its willingness to adapt to evolving consumer preferences. With a growing global focus on sustainability and the adoption of EVs, Hyundai's willingness to enter the export market for EVs demonstrates their commitment to being at the forefront of this rapidly changing industry.
Source: 'If we see demand for EVs in any of our export mkts, we are open to export'