Hyundai Motor India Limited plans to launch its new 800cc car in India in next three to four years. Research teams from Hyundai in Hyderabad and Chennai shall jointly work on the new car concept that would compete with Maruti's 800cc car directly in the small car segment.
“We are working on a 800cc car which will be similar to the Maruti 800. The car is under joint development in our Indian and Korean R&D facilities. The ultimate desire is to become India’s largest car maker,” said Hyundai Motor India MD & CEO H S Lheem.
Maruti Suzuki currently leads the small car segment in India with Hyundai trailing at the second position. HMIL plans to expand its market share and occupy larger market share in the country. It has set a target of 22 percent market share in the current year.
“The small car market is going strong and will continue to do so. Our small car will be meant for both the domestic and the export market. However, we neither have the technology nor any plan to fight the Nano,” said Lheem.
Hyundai also plans to bring its new model i20 in India by the year end. The new model shall be launched in Paris Auto Show in October this year. Hyundai currently sells 20,000 i10 per month which records as the highest selling model for the company. HMIL has already sold 2 lakh units this year and exported more than one lakh cars.