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Hyundai Motor India (HMIL) is closely monitoring the situation at Talegaon plant, which it acquired from General Motors (GM).
“We are going forward on our one-million production target and sometime in 2025, the production at Talegaon plant will start... We have grown by 9 per cent last calendar year and our market share grew 0.1 per cent last year... We want to further go up in market share, introducing new products and Talegaon plant will be very supportive towards that,” Tarun Garg, Chief Operating Officer, told reporters here.
When asked about the developments from the GM workers’ union side, its President, Sandeep Bhegade, said that around 900 ex-employees are right now at a negotiation stage with the GM management for a swift transfer.
“We are still in talks with the GM management and asking for compensation. We are expecting for a smooth transition. We have no communication from others right now (from Hyundai or Maharashtra government),” Bhegade told businessline.
The Maharashtra government has recently assured that all 900 ex-workers of GM would get a compensation of ₹25 lakh each and eligible candidates would also be absorbed in the new company (HMIL).
Meanwhile, HMIL said that SUV sales would account for 65 per cent of its overall volumes in 2024, and with a mass market electric vehicle (EV) next year, it expects EVs to contribute 20 per cent of its total sales by 2030.
“Last year, SUVs accounted for 60 per cent of our total volumes. This year, we expect it to touch the 65 per cent mark. We sold 1.57 lakh units of Creta last year and with the new Creta, we will grow more in the SUV segment,” Garg said on the sidelines of the new Creta launch here.
New Creta
The company, on Tuesday, launched the new Creta with introductory prices starting at ₹11 lakh (ex-showroom). While the petrol version is priced between ₹11 lakh and ₹20 lakh, the diesel variant is priced at ₹12.45 lakh to ₹20 lakh (ex-showroom). The mid-size SUV continues to lead the segment with a market share of 31 per cent.
The new Creta is powered by a mix of refined and torquey powertrains including 1.5 l MPi Petrol (6MT/ IVT), 1.5 l U2 CRDi Diesel (6MT/ 6AT) and 1.5 l Turbo GDi Petrol (7DCT), to provide superior driving experiences to customer, the company said.
“Hyundai Creta is a brand beloved by India, captivating over nine lakh customers, and counting, it made India ‘Live the SUV life’. The new Hyundai Creta with its commanding road presence, segment leading features including advanced Level 2 Advanced Driver Assistance System (ADAS) safety suite, powerful 1.5 Litre Turbo GDI engine and a gamut of convenience and active and passive safety features, is set to redefine the SUV landscape in India once again,” Un Soo Kim, Managing Director and Chief Executive Officer, HMIL, said here at the launch.
He added that HMIL was confident that the new Creta will not just uphold but elevate the strong legacy of the Creta brand, ‘remaining the undisputed’.
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