Hyundai Motor India Limited (HMIL) in collaboration with Laxmi Group, marks a milestone in Nepal’s automotive industry by commencing the local assembly of the Hyundai VENUE at Nepal’s first automobile assembly plant. With an installed capacity of assembling 5,000 units annually, the plant is set to enhance the availability of Hyundai vehicles in Nepal, starting with the Hyundai VENUE as the inaugural model to be locally assembled.
Unsoo Kim, MD & CEO of Hyundai Motor India Limited stated “This plant in Nepal has an installed capacity of assembling 5,000 units annually, and Hyundai VENUE will be the first locally assembled model to roll off the plant. I would like to convey my sincere congratulations to the people of Nepal for this achievement!”
The successful establishment of the plant has been facilitated by support from the Nepalese government and the active involvement of the Laxmi Group, a prominent local partner. This collaborative effort underscores a shared vision for advancing Nepal’s automotive industry and integrating it into global supply chains.
“We are immensely grateful to the Prime Minister Pushpa Kamal Dahal and the Government of Nepal for their unwavering support. We look forward to more encouraging policies and incentives from the Nepal Government aimed at developing a conducive environment for local assembly,” added Kim.
The initiative is set to promote localisation of the automotive industry in Nepal, reducing the dependency on imports and fostering a self-sustaining industrial environment. The local assembly operations are expected to create direct and indirect job opportunities, contributing to the economic development of the region.
Also Read
Hyundai Motor Group's Executive Chair Euisun Chung Champions Strategic Vision During India Visit