Hyundai to set-up new diesel engine manufacturing plant in India
The Indian unit of Korean auto giant Hyundai Motors announced on Monday that it will set-up a new diesel engine manufacturing plant in the Indian market with an investment of over Rs 400 crore over the period of next three years. The new plant will be having an annual manufacturing capacity of 1.5 lakh units. The plant will go on stream by the end of year 2013. According to a declaration given by Hyundai India Managing Director and CEO Han Woo Park to PTI, "The feasibility study for the diesel engine plant has been finished and we will announce the location in the next few months. The plant is proposed to have an annual installed capacity of 1.5 lakh units." Hyundai India will produce three different types of engines at this prospective plant comprising of 1.1L, 1.4L and 1.6L engines.
All of these engines will be produced for domestic market only. At present, the company imports the diesel engines for its cars like Hyundai i20 and Verna from Korea. Moreover, the company is also planning to enhance its vehicle manufacturing capacity to 6.7 lakh units from existing capacity of 6.3 lakh units, by next year. It is also planning to launch three new cars in the country by next year with a new 800CC small car.