Increased R & D investment, small(er) car in the future
Hyundai Motor India Limited (HMIL) is planning to expand its R & D centre in Hyderabad. The company has already invested $28 million in the Hyderabad research centre which is to focus mainly on computer-aided design and engineering work for its global operations. By 2010, Hyundai expects to employ over 800 engineers at this centre, 4 times the number it employs right now.
India is fast becoming the hub of Hyundai’s small car production for the global market. The company is the biggest exporter of cars in the country, even ahead of market leader Maruti Suzuki. Mr. H. S. Lheem, MD HMIL, said at the launch of the new Verna recently that the company expected to export between 2.8 – 3 lakh cars this year. He also said that Hyundai will possibly develop a smaller car than the Santro in the future, but it won’t be in the same segment as the Nano.
