Hyundai to launch small car by 2011
Hyundai Motor India Ltd today said it is working on a new 'mini car' in the entry-level segment, which should hit the roads by 2011.
"We are developing a small car in the entry level range and it should hit the market by 2011," HMIL Managing Director H S Lheem told reporters here. He, however, refused to divulge the details including the cost of the proposed car. A query, whether the HMIL's small car was being planned to compete with the Tata 's Nano , failed to elicit any response from the company officials, though sources said the target group for this product would be the same as Nano's - two-wheeler users aspiring for a car.
Lheem further said the car would be manufactured from the company's existing plant at Sriperumbudur, about 40 km from here. "We have adequate capacity to manufacture (the new car) in the plant. It's capacity is about 6.5 lakh cars per annum and we are sure that it will accommodate," Lheem, who was here to flag off the company's 'i20' range of cars, produced at the Sriperumbudur plant, to the European market, said.
[Via: sakaalytimes]