agencyfaqs! News Bureau
CHENNAI, July 21
Hyundai Motor India Limited (HMIL) today shipped off its first batch of 350 Santros and 410 Accents to Algeria. The company hopes to export between 300 and 500 units of Santros and Accents - which would be manufactured at the Irrungattukotai plant near Chennai - every month.
HMIL's production strategy had earlier restricted the export of these completely built units (CBUs) to very small numbers and these were exported mainly to the neighbouring countries of Nepal, Sri Lanka, Pakistan and Bangladesh. With its foray into the Mediterranean market, HMIL hopes to make its Indian operations a major base for global exports.
Says Y S Kim, managing director, HMIL, "Hyundai plans to make India the global supply source for cars and auto components of highest international quality. We also feel proud of living up to our export commitment given to the Government of India at the time of Hyundai's entry into the country."
HMIL, which operates in 168 countries around the world, has become the second largest car manufacturer in India in less than two years. The Irrungattukotai plant currently has an annual capacity to manufacture 130,000 engines, transmission sets and components, and 120,000 cars.
The company plans to increase its manufacturing capacity to 200,000 cars by 2003 with the aim of making India the hub of auto component supplies and CBUs. Incidentally, HMIL also plans to export engine and transmission sets to the parent company in Korea, as well as to the growing market of Turkey.
© 2000 agencyfaqs!First Published : September 25, 2014 04:04 PM