Prime Minister Narendra Modi’s ‘Make in India’ got another support from South Korean car manufacturing company Hyundai, which already has manufacturing plant at Chennai. Hyundai Motor Company plans to shift Verna manufacturing from Korea to India. Verna will be supplied to global markets from India starting from January 2018
Hyundai Motor India which is largest passenger car exporter for many years now, developing its Chennai based manufacturing unit as bigger manufacturing hub to cater to its global demand.
The company plans to manufacture around 1.3 lakh units of the Verna in India in a year and export 60-70% of that.
India attracts all foreign car manufacturers as very low-cost manufacturing hub. Land, manpower, component cost, govt subsidies and schemes for manufactures are far more economical then most of the international markets.
