Signalling India’s growing centrality in its global vision, South Korean automaker Hyundai Motor Company (HMC) on Tuesday announced a ₹45,000-crore investment plan through 2030, aimed at expanding capacity, strengthening R&D and launching 26 new products, including electric and hybrid vehicles.

“India isn’t just important to Hyundai’s global strategy — India is Hyundai’s global strategy,” said Jose Munoz, President and CEO of HMC. “We are better when we are challenged, and in this market, we compete with some of the best manufacturers in the world.”

Hyundai’s aggressive bet on India comes amid intensifying competition from home-grown automakers such as Tata Motors and Mahindra & Mahindra , both rapidly expanding their electric and SUV portfolios.

New models

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