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Photograph: Bloomberg (Consultant Picture)
Hyundai Motor India sought regulatory approval on Saturday to checklist on the Mumbai inventory market in what may very well be the most important IPO within the South Asian nation.
India is the world’s third-largest automobile market after China and the US, and one the place Hyundai fiercely competes with the likes of Maruti Suzuki and Tata Motors.
Listed below are information about operations of Hyundai and its predominant rivals in India:
Hyundai Motor
Hyundai is India’s second-biggest automobile maker by gross sales with a 15 per cent market share of the 4.2 million passenger automobiles bought within the nation in fiscal yr 2024. The automobile maker was one of many first international manufacturers to arrange store in India again in 1996 and manufactures its in style ‘Creta’ sport utility automobile (SUV) and different fashions at a plant close to Chennai in southern India.
Hyundai’s Tamil Nadu plant has an annual manufacturing capability of over 820,000 items, and with the acquisition of its second plant in Western India this can improve to over 1 million items within the subsequent few years.
It presently sells only one imported electrical automobile (EV) mannequin, the IONIQ 5, and can launch its first domestically produced EV subsequent yr.
Maruti Suzuki
With a market share of 42 per cent, Maruti Suzuki is Hyundai’s greatest rival in India and went public in 2003. Majority owned by Japan’s Suzuki Motor, the corporate has three crops in India, with a mixed capability of two.35 million items.
Its smaller vehicles such because the Wagon R and Swift are top-selling fashions in India, and additionally it is recognized for its Brezza SUV. Maruti has plans to launch hybrid vehicles and EVs in India.
Tata Motors
Tata Motors is India’s third-biggest automobile maker by gross sales and made its market debut in 1955. It produces its vehicles within the auto hub of Pune in western Maharashtra state and at Sanand in Gujarat state, giving it a mixed whole manufacturing capability of over 1 million items a yr.
Tata’s Nexon and Punch fashions are the nation’s most-sold SUVs and have contributed to its general market share rising to 14 per cent, simply behind Hyundai.
It dominates gross sales of EVs in India, with a market share of over 70 per cent.
Mahindra & Mahindra
Mahindra & Mahindra is India’s fourth-biggest automobile maker by gross sales and is a part of Indian tech-to-tractors conglomerate Mahindra Group. It listed its shares in Mumbai in 1956.
Its massive and costly SUVs, such because the Scorpio and XUV700, make it India’s greatest SUV producer by income. Mahindra has an annual capability of round 588,000 items and manufactures its automobiles in Pune.
The corporate presently sells one EV mannequin and is predicted to launch a slate of electrical SUVs in early 2025.
(Solely the headline and movie of this report could have been reworked by the Enterprise Normal employees; the remainder of the content material is auto-generated from a syndicated feed.)
First Printed: Jun 15 2024 | 11:50 AM IST
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