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Hyundai Motor India Ltd (HMIL), the second largest car brand in India, plans to produce about three million vehicles over the next five years to reach a milestone of 10 million units by 2021.
The South Korean car company on Monday marked the production of its 7-millionth car at its factory in Irrungattukottai near Chennai, since it commenced production in India in 1998.
Hyundai has achieved the distinction of being the second-best position amongst its overseas peers, after China, within Hyundai Motor Group and the first auto manufacturer in India to achieve this feat within 18 years of commercial operation, according to a statement.
“It proves once again that Hyundai Motor India can cross the one-million milestone, at an average of every 18 months,” it added.
YK Koo, Managing Director and CEO, HMIL, said: “Our ‘Made in India’ products have impressed global and Indian customers alike.”
The company announced during its 20th year of foundation on May 6, 2016, to be the market leader and to touch 10 million units within the first half of 2021. HMIL rolled out its first million car, a Santro, in 2006, eight years after commencement of commercial production.
The next million milestone was achieved within an average of 18-19 months.
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