India is Hyundai’s land of opportunity

Hyundai Motor is still working hard to woo Indian consumers as the world’s second-most populous country emerges as one of the fastest growing markets in the global auto industry.

Hyundai Motor Vice Chairman Chung Eui-sun made a speech at the first Move Global Mobility Summit on Thursday, presenting the automaker’s plan to pursue future mobility and its dedication to the Indian market.

The summit is a two-day state-run event taking place in New Delhi under the theme “Shared, Connected and Zero Emissions Mobility.” More than 1,200 attendees, including the CEOs of auto giants and start-ups, will participate in discussions centering on future mobility.

“Hyundai Motor will actively pursue to become a smart mobility solution provider from a manufacturer,” Chung said in his speech.

“I am certain that innovation in mobility will improve not only people’s lives but also improve environment and energy issues at the same time. It will also act as a means to connect the urban with the suburban and a person with another person,” he added.

Chung also unveiled plans to launch a total of four eco-friendly vehicles in India in the near future, three of which will be electric models and the fourth a hydrogen-powered Nexo.

Hyundai Motor, the world’s fifth-largest automaker, has seen huge potential in India’s auto market for some time.

India is currently the world’s fourth-largest auto market, posting a year-on-year sales growth rate of 9.5 percent according to 2017 market data.

Hyundai Motor established its Indian office in 1996 and has been using the regional office as an export hub, sending cars made there to more than 90 countries.

Hyundai Motor is currently the No. 2 player in India. It sold some 320,000 units this year as of July, posting a year-on-year growth rate of 7.5 percent. The i20 hatchback and small SUV Creta are the most popular models.