Hyundai will set its research and development center in Hyderabad from September in an effort to feed the results for future models including Kias’. Some $40 million have been invested for this purpose with the manpower constituting 210 Indian engineer and 10 Korean engineers. With the enhanced activity of the center, there will be an additional manpower of 800-1000 Indian engineers in the next five years. Hyundai will also set the wheel rolling for its sports utility vehicle Santa Fe in the CKD (completely knocked down) form including 30% localization rather than CBU (completely built unit). The hiccup in this is 60% import duty compared to 10% on components like glass, seats, tyre etc. in addition the company will launch an 800cc engine smaller than Santro and will be developed in Korea with the production marked in India and will be a stiff competitor to Wagon R. the launch will be after 2 or 3 years and hence no word about the pricing. Hyundai has already developed the diesel engine of 1.1- 1.5 lit capacity in Korea and may be migrate after the approval from its apex body. With all its R&D aimed for the future, the export market seems to be vital for Hyundai.
Hyundai will set its research and development center in Hyderabad from September in an effort to feed the results for future models including Kias’. Some $40 million have been invested for this purpose with the manpower constituting 210 Indian engineer and 10 Korean engineers. With the enhanced activity of the center, there will be an additional manpower of 800-1000 Indian engineers in the next five years.
Hyundai will also set the wheel rolling for its sports utility vehicle Santa Fe in the CKD (completely knocked down) form including 30% localization rather than CBU (completely built unit). The hiccup in this is 60% import duty compared to 10% on components like glass, seats, tyre etc. in addition the company will launch an 800cc engine smaller than Santro and will be developed in Korea with the production marked in India and will be a stiff competitor to Wagon R. the launch will be after 2 or 3 years and hence no word about the pricing. Hyundai has already developed the diesel engine of 1.1- 1.5 lit capacity in Korea and may be migrate after the approval from its apex body. With all its R&D aimed for the future, the export market seems to be vital for Hyundai.