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Hyundai's Muñoz says India vital to company's growth

Published: 05 Mar. 2025, 19:05

Hyundai Motor CEO José Muñoz during a town-hall meeting at Hyundai Motor India in Gurugram India, on March 4 [HYUNDAI MOTOR]

Hyundai Motor CEO José Muñoz held a town-hall meeting with employees in India this week to underscore the unit's importance to the automaker's global electric vehicle (EV) growth strategy, the company said Wednesday.

Muñoz, the first foreign CEO of the Korean automotive giant, held the meeting Tuesday with employees at Hyundai Motor India (HMIL) in Gurugram, India, and discussed the company's global vision and growth strategy for the Indian market.

The CEO underscored the importance of HMIL in Hyundai Motor's target to globally sell 2 million EVs by 2030, saying that India will play an “important role in achieving this milestone.”

“HMIL is the second-largest passenger vehicle maker in India, an important and growing market. At the same time, India is the third-largest market in Hyundai's global operations,” Munoz said.

He stressed that HMIL's listing on the Indian bourse last year helped Hyundai invest and expand in new products and additional production capacity in India.

“In 2026, HMIL will celebrate 30 successful years, fortifying Hyundai's brand promise in the country. I am confident that HMIL will continue to set new records and benchmarks,” Munoz said.

Yonhap