Hyundai plans to make India manufacturing hub for global mini SUV
The company has been enthused by the success of Creta SUV , which has seen sales of 45,000 units since its launch in July last year.
Top sources in the company told TOI the compact SUV -codenamed HND-14 -is being handled by the research and development centre at Hyderabad, which is carrying out the groundwork for the new vehicle platform. “The investment planned for the project is around Rs 700 crore. The new vehicle should hit the ground within three years,“ a source said.
The company has been enthused by the success of Creta SUV , which has seen sales of 45,000 units since its launch in July last year. “The car will be made in India and will also be exported to countries in West Asia, South America and AsiaPacific,“ the source said, adding that the vehicle may come out from a new factory that the company intends to set up.
The Creta is being sold across 92 countries, and Hyundai feels that the new vehicle will also find a market across many countries.
“The R&D efforts are focused around working out localization initiatives in India as well as integrating design elements from India,“ the source said. Lower tax benefits for small cars will also keep price of the car under check.
In India, the car will compete with models such as Maruti's soon-to-be-launched `Vitara Brezza', Renault's Duster and Ford Eco Sport.