The managing director of The company has said it is developing a car priced at around $3,500 to attract customers in China and India, where competition is set to increase when Tata Motors starts selling its $2,500 Nano, the world’s cheapest car
H S Lheem, Managing Director and CEO of Hyundai Motor India said that it will take at least four years to develop the car, and a 2012 launch might be possible. It is currently in the evolution stage at Hyundai’s R&D centre in Korea. However, the car will not compete against US$ 2,500Tata’s Nano.
Hyundai, India’s No. 2 carmaker after Maruti Suzuki India, is pursuing research and development work for the small car at its facilities in Korea and also in the southern Indian cities of Hyderabad and Chennai, Lheem said.
Meanwhile, the Santro LPG, Accent LPG and CNG and the new i 10, i20 are heavy lift hyundai’s india sell, the i10 alone sell average at 10,000 unit a month and i20 accont for 3,000-4,000 a month but still far behide competitor Maruti Suzuki Swift that deliver to more than 8,000 customer per month
On the export front, he said the company expects to export 212,000 units during this year. The company is exporting four models in overseas markets which includes i10, Santro, Getz and Accent and its export is spread from india to over 95 countries.
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