Bangalore, Nov 1 (UNI) Hyundai Motor India Limited Managing Director H S Lheem today said India would become the company's hub for manufacturing small cars.
Addressing newspersons, after launching a new compact car here, Mr Lheem said over 94 per cent of the new car would be manufactured at its state-of-the-art plant in Tamil Nadu and would be exported to over 75 countries from next year.
''The price of the new car is affordable to Indian customers. It also meets the international standards in terms of safety and emission'' he said.
Stating that Bangalore market plays a very significant role for Hyundai's market, Mr Lheem said the company was committed to produce quality cars for its customers.
He said the company enjoys a market share of over 18 per cent in India and was poised to grow by 20 per cent next year.
The company had manufactured 1500 units of the new car and the production would grow to 15,000 units by year end.
He said of the 3.2 lakh cars manufactured by its Chennai unit, two third of the volume were sold domestically.
The company had set a target to produce over 5.3 lakh units next year, he added.