Korean auto major Hyundai, is looking to enterthe domestic CV market. Seoul-head-quartered Hyundai Motor Company (HMC) is evaluating the prospects of the Indian small and heavy commercial vehicle market.
Hyundai manufactures heavy and light commercial vehicles in markets such as Korea and China, and exports to several countries. It sells more than 300000 unitsof CV a year. Y K Koo, Managing Director and Chief Executive Officer at Hyndai Motor India, confirmed that the parent was doing a feasibility study for the Indian market because it saw potential here. However, he said that the car manufacturing unit in India was not directly involved in it.
It is learnt that a team from HMC's CV division in Korea had visited in Indiai this year to study market and meet potential partners. "The team also met a number of Hyundai car dealers in India to know about their interest in the CV business," a spokesperson said. The investment palns have not been finalised, bu experts said a truck manufacturing facility might require an investment of 4000-5000 crore.