Hyundai Motor India (HMIL) expects India to become its South Korean parent company's second-largest global market by 2030, highlighting the country's growing role in Hyundai Motor Company's long-term growth strategy.

In its annual report, the company said India's expanding economy, rising vehicle ownership and increasing demand for technology-driven mobility solutions are expected to support this objective.

"India is expected to become HMC's second-largest market globally by 2030, reflecting the country's growing economic importance, rising vehicle ownership and increasing preference for technologically advanced mobility solutions," the company said.

Capacity expansion and localisation plans

To support its long-term strategy, Hyundai plans to strengthen its position in the SUV segment while expanding manufacturing capacity, accelerating product launches and increasing localisation.

"Manufacturing will remain the foundation of Hyundai's long-term competitiveness. Building on the addition of the Pune facility, HMIL is expanding its production footprint to create one of HMC's largest manufacturing bases globally," the company said.

The automaker expects its annual production capacity to exceed 1.1 million units by 2030 through the adoption of smart manufacturing technologies, greater automation and increased operational flexibility.

Hyundai also plans to deepen localisation, strengthen supply chain resilience and position India as a key manufacturing and export hub.

New products and EV ecosystem

The company said it will maintain an aggressive product launch strategy to meet evolving customer preferences.

"Customer expectations are evolving, driven by premiumisation, connectivity, electrification and changing lifestyles. To stay ahead of these trends, HMIL will maintain a strong product cadence with 26 planned launches between 2025 to 2030 across new models, full model changes, derivatives, facelifts, product enhancements and new nameplates," the report said.

As part of this roadmap, Hyundai plans to introduce two new SUV nameplates by the end of FY2027, including a locally developed mass-market battery electric SUV and a new internal combustion engine (ICE) SUV.

The company noted that a slower rollout of new models, facelifts and product upgrades than rival manufacturers affected its domestic performance in FY2026, resulting in a decline in market share and its position falling to fourth in India's passenger vehicle market.

Luxury brand and charging network

Hyundai said its Vision 2030 strategy extends beyond vehicle launches to the development of a broader electric vehicle ecosystem, including plans to install 600 fast-charging stations across India.

The company also reaffirmed plans to introduce its Genesis luxury brand in India as part of its long-term growth strategy.

In his message to shareholders, Managing Director and Chief Executive Officer Tarun Garg said the Vision 2030 roadmap includes "our entry into luxury mobility with the Genesis brand which has elevated the luxury experience worldwide," alongside investments in new products, hybrid technology, battery electric vehicles and manufacturing expansion.