Kolkata: Auto maker Hyundai Motor India Ltd has revised its export target for 2008 to about 240,000 cars, nearly double last year’s figure of 126,000. The company also plans to invest $250 million (Rs1,055 crore) in the country by 2013.
“We have revised the export target recently to 2.4 lakh cars, up from 2.12 lakh projected early this year. In 2007, we had exported 1.26 lakh cars,” a company official said.
India’s second largest car maker said the share of exports in its total sales would increase to 45% during the year compared with 38% in the previous year.
Hyundai spokesman Rajiv Mitra said the company would pump in around $250 million by 2012-13 to achieve a cumulative $1 billion investment target. “Hyundai Motor has so far invested $733 million, and vendors $262 million,” he said.
Mitra said of the cars to be exported, Santro and i10 models add up to contribute about 150,000 units, while the remaining would be the Getz and Accent models. Hyundai exports to 95 countries including those in the European Union, Africa, West Asia, Latin America and South-East Asia.