Hyundai Motor Group Executive Chair Euisun Chung met with Indian Prime Minister Shri Narendra Modi to discuss the future of mobility. Chung emphasized the Group’s commitment to collaborating closely with India, given the country’s diverse market conditions and reformist approach.
Chung was in India to review the Group’s mid- to long-term strategy and attended the Hyundai Motor India Limited (HMIL) Stock Exchange Listing Ceremony on October 22, 2024. The meeting, held at the Prime Minister’s office in Delhi, also included Mr. Tarun Garg, COO of HMIL. They explored the development of the Indian mobility industry and potential cooperation between India and Hyundai Motor Group.
Chung also extended an invitation to the Prime Minister to attend the opening of HMIL’s plant in Pune, Maharashtra. This investment is expected to be transformative for HMIL, with support from both the Government of India and the Government of Maharashtra.
HMIL will continue to play a key role in the “Make in India” initiative, and as India marches toward its ‘Viksit Bharat 2047’ vision – a strategy for the country’s development by the year 2047, coinciding with the 100th anniversary of India’s independence – Hyundai will stand as a trusted partner on this meaningful journey.
Since entering the Indian market in 1996, Hyundai Motor Group has become one of the top mobility companies in the country, offering innovative products and making significant social contributions.
Executive Chair Chung expressed his respect for India’s heritage and culture during the meeting. He said, “India’s rich history and culture continue to inspire people worldwide. As India and Korea deepen economic collaboration, we can learn much from each other’s cultures and strengthen the foundations of our cooperation.”
He also thanked the Indian government for its continuing support of Hyundai Motor Group, discussed the significance of Hyundai Motor India’s IPO, and outlined plans to build on the Group’s success so far by establishing Hyundai Motor as India’s most trusted mobility company.
“Hyundai Motor has successfully operated in India for over 26 years, becoming the second largest automobile manufacturer thanks to the Indian government’s interest and the Indian people’s support,” said Executive Chair Chung, adding, “Now is the right time to further establish Hyundai as a ‘Home Brand’ and the ‘Most Trusted Brand’ in India.”
Executive Chair Chung expressed his support for the adoption and growth of EVs in India, stating “We will continue our cooperation with the Indian government to establish an EV ecosystem through the release of EV models, construction of EV-charging networks, and localization of parts.”