It has been a known fact that Korean carmaker Hyundai, has been one of the strongest rival for India’s biggest carmaker Maruti Suzuki. The India’s largest carmaker Maruti Suzuki is reportedly investing about Rs. 2,000 crore in Greenfield Research and Development center in Rohtak, Haryana. Closely following its footsteps, the Korean carmaker Hyundai Motors is also planning on setting up local research and development centers that facilitate development of new cars that shall be build from scratch in India.
Speaking more on the occasion, Rakesh Srivastava, senior vice-president (sales and marketing), Hyundai Motor India, said, “Today, most products are designed in South Korea or Germany. We have invested in the R&D centre in India and would like to develop our own base. It is always a dream for an R&D centre to create a product of its own. We would like to build capability to that level. We will bring one new product every year for the next couple of years and refurbish some of our existing products.”
Localization would help Hyundai to control cost and also gain benefit of local expertise and components. It is also believed that localisation of present generation Hyundai cars shall rise by about 85 – 90%.
