Hyundai Motor India to enter MPV, Off-roader Segments by 2030

Hyundai Motor India Limited announced on Tuesday that it will enter two segments where it currently has no presence. The company plans to launch an MPV and an off-road SUV in India by 2030 as part of its expansion strategy.

The automaker unveiled its 2030 growth roadmap at its first investor day event in Mumbai. The plan includes 26 product launches by 2030, with seven vehicles carrying nameplates that are entirely new to the company's India portfolio. The MPV and off-roader will mark Hyundai's debut in these categories in the country.

José Muñoz, president and CEO of Hyundai Motor Company, said the expansion reflects the company's commitment to India. He stated that Hyundai Motor India will become the second-largest region within the global Hyundai Motor Company by 2030. The company has allocated ₹45,000 crore in investments through 2030 to support this growth.

Tarun Garg, whole-time director and COO of Hyundai Motor India, said the company targets more than 15% market share in the domestic market by 2030. He added that utility vehicles will account for over 80% of the company's sales by that year. The entry into the MPV and off-roader segments is part of the strategy to strengthen the company's position in high-growth categories.

The company currently operates in segments including hatchbacks, sedans, and SUVs. The MPV segment in India includes models such as the Maruti Ertiga, Kia Carens, and Toyota Innova. The off-road SUV category features vehicles like the Mahindra Thar, Maruti Suzuki Jimny and the Force Gurkha.

Hyundai Motor India also announced plans to launch India's first locally manufactured electric SUV by 2027. The company will introduce its luxury brand Genesis in India by the same year. These launches are part of the broader portfolio expansion that includes the MPV and off-roader.