Hyundai Motor India Ltd (HMIL) on Friday said it would increase production capacity by about 12 per cent to 6.7 lakh units annually at its Chennai facility.
Minor investments
The company, which is India’s largest car exporter, has planned to reduce overseas shipments by 8 per cent this year at 2.5 lakh units in order to meet domestic demand. “We are making minor investments to increase our production capacity to up to 6.7 lakh units per annum,” Managing Director H. W. Park told reporters here.
However, he declined to share the details about how much investment the company was planning to put in for enhancing the capacity. HMIL had capacity to produce six lakh units annually at its Chennai facility.
Sales target
About its sales target in the overseas markets, Mr. Park said the focus was on meeting the domestic demand and that was the reason the company had fixed the export target for this year at 2.5 lakh units, slightly less than last year.
The company had exported 2.71 lakh units last year. He said the company was expecting to sell 3.4 lakh units in the domestic market this year as compared to 2.9 lakh units last year.
Asked whether the company was planning to introduce its flagship models, such as Santro and i10, with smaller engines, Mr. Park said that there would be no small engine for i10 or Santro. The Hindu
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