Alcazar has become the ten-millionth car to roll out of the assembly line of South Korean carmaker Hyundai Motor India (HMI), which celebrates the silver jubilee of the company’s formation in India.
MK Stalin, Chief Minister of Tamil Nadu signed on the car bonnet to mark the momentous occasion.
But for the pandemic, especially the first wave in 2020, the company would have achieved this milestone about three months earlier.
The next millionth vehicle could be an electric car, indicated S S Kim, MD & CEO, HMI. The production of 15th million will be faster than the previous five million, he said. The company achieved the first million in 2006 and fifth million in 2013.
Alcazar, the recently launched SUV, will catalyse growth for the company this calendar despite the second wave of the pandemic playing havoc, Kim said.
Although the company, which contributed to the Indian economy with an investment of $4 billion, faced several challenges in the manufacturing and sales front, it has decided to go ahead with its plans, especially on the new launches. Sharing his thoughts after the roll-out, Kim said the sales recovery for the company this calendar will be faster than last year and Alcazar and the impending launches would support the growth. However, he did not update the number of launches planned for this year. It may be recalled that HMI launched six vehicles last year.
HMI’s factory, the first integrated car manufacturing plant of Hyundai Motor Group outside Korea, produces 7.5 lakh units annually. It exports about 25-30% of the production. Between April 2020 and March 2021, the company exported 104,342 units of passenger vehicles from India. It hopes to maintain similar levels this year as well, despite the ill effects of the pandemic.
Kim said the milestone also showcases the company’s objective of boosting the socio-economic development in the State of Tamil Nadu and making the country more self-reliant.
HMI, in line with its global vision of ‘Progress for Humanity,’ also announced community-centric social value initiatives for the state of Tamil Nadu, including the inauguration of Dream Village Project 2.0 – Construction of Child Care Centre benefitting 500 people annually and Community Hall with a capacity to accommodate 1,500 people at Katrambakkam village in Sriperumbudur.
The company also launched an Income-Generation Programme (dairy farming) for Rural Women, benefitting 200 families in Kanchipuram district. It also donated five ventilators to Government Hospitals at Kancheepuram and supported a Self-Help Group for setting up a mobile catering service at Vallakottai village, near Sriperumbudur.