Hyundai Motor India Limited
new thinking new possibilities
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| Subsidiary | |
| Industry | Automotive |
| Founded | May 6, 1996 |
| Headquarters | Chennai, Tamil Nadu, India |
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Key people
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Mr. Y. K. Koo (CEO) |
| Products | Automobiles |
| Parent | Hyundai Motor Company |
| Website | www.hyundai.co.in |
Hyundai Motor India Ltd is a wholly owned subsidiary of the Hyundai Motor Company in India. It is the second largest automobile manufacturer in India.
Hyundai Motor India Limited was formed on 6 May 1996 by the Hyundai Motor Company of South Korea. When Hyundai Motor Company entered the Indian Automobile Market in 1996 the Hyundai brand was almost unknown throughout India. During the entry of Hyundai in 1996, there were only five major automobile manufacturers in India, i.e. Maruti, Hindustan, Premier, Tata and Mahindra. Daewoo had entered the Indian automobile market with Cielo just three years back while Ford, Opel and Honda had entered less than a year back.
For more than a decade till Hyundai arrived, Maruti Suzuki had a near monopoly over the passenger cars segment because Tata Motors and Mahindra & Mahindra were solely utility and commercial vehicle manufacturers, while Hindustan and Premier both built outdated and uncompetitive products.
HMIL's first car, the Hyundai Santro was launched on 23 September 1998 and was a runaway success. Within a few months of its inception HMIL became the second largest automobile manufacturer and the largest automobile exporter in India. Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company (HMC), South Korea and is the largest passenger car exporter and the second largest car manufacturer in India. HMIL presently markets 10 models - Eon, Grand i10, Xcent, Elite i20, i20 Active, Verna, Elantra, Creta, Tucson and Santa Fe.
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Wikipedia