Sunday, June 1, 2008

Hyundai plans to develop the ultra low cost vehicles

2008 Hyundai i10

Hyundai announced that it plans to roll out a $3500 car in India by 2012.

"It will take at least 4 years to develop the car and we think we will be able to introduce this car by 2012 for Indian market," Hyundai Motor India Managing Director and CEO H.S. Lim told reporters here on Friday. He stated that it will not compete with the Tata Nano, which goes for 1 lakh rp. or $2500.

Lim also said the company would introduce several new models in 2008 for the Indian market including the LPG variants of Santro and Accent, a CNG Accent, and the long-awaited i20. Hyundai recently reported record profits in the country, with the i10 (pictured) making a major contribution.

Research and development for the new small car will take place in both South Korea and southern Indian cities Hyderabad and Chennai. The South Korean manufacturer is certain that there’s demand for a smaller model, not only in India but in other countries as well. While the Tata Nano may be cheaper than the upcoming small Hyundai.

[Source : Hyundai India via Autoblog]

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