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October 18, 2005
Hyunadai considering engine manufacturing in India
Hyundai Motor Co., Korea's largest automaker is considering producing diesel engines in India for locally assembled cars, cutting costs and making them more affordable in Asia's fourth-biggest automobile market.
Hyundai, with $500 million of investments earmarked until 2008 for raising its share of India's vehicle market to 25 percent by 2010, is studying a plan to make diesel engines, said S.S. Yang, the carmaker's managing director for India.
Hyundai may fit diesel engines on Santro and Getz compact cars in India. Vehicles that burn diesel, which is up to 25 percent cheaper than gasoline in India, are increasingly popular.
Hyundai already is exporting cars from its Indian assembly plant to Western Europe replacing cars currently built in and shipped from Korea. Hyundai Motor India, a fully owned subsidiary of Hyundai Motor Co has a large and modern assembly plant near Chennai (Madras).
Posted by admin at October 18, 2005 03:19 PM