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Corporate
Hyundai Motors plans to make India its export hub

NEW DELHI: Hyundai Motors India (HMI) on Thursday said it is looking to export 50 per cent of its production by 2008 in line with its plans to make the country an export hub. "At present, we are exporting 33 per cent of our production which we will incre ase to 50 pc by 2008," Mr Arvind Saxena, Vice President (Marketing and Sales), HMI said on the sidelines of SIAM conference.

Mr Saxena said that they are presently exporting to 66 to 70 countries in all the major markets and have identified 12 to 13 prospective countries for exports. He said that an increase in exports would be achieved by enhanced production capacity at its p lant in Chennai.

HMI currently has a capacity of 3 lakh units per annum and is in the process of doubling its capacity to 6 lakh units per year.

Mr Saxena said the company is targeting an export figure of one lakh plus units for the current financial year. Last year, the company exported around 92,000 units.

Talking about the company's SUV Tucson, Mr Saxena said: "The vehicle is good but we need to rework on our marketing strategy." - PTI

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