Hyundai Motor India (HMI), the second-largest car manufacturer in the nation, has outlined bold expansion strategies to establish India as a production center to meet the growing export requirements for its automobiles in developing markets.

HMI Managing Director Unsoo Kim stated during a conference call that the automotive giant plans to increase production to satisfy the rising demand in both the local market and the export markets in Africa, the Middle East, Latin America, and South Asia.

"We are seeing the domestic volume is increasing and the export market is also increasing. And then, we have a very suitable product lineup for emerging markets," Kim said.

Kim mentioned that a balanced combination of domestic and export volumes will allow the company to not only achieve profitability but also obtain a natural safeguard against market variations.

Hyundai Motor India has recently increased its manufacturing capacity by obtaining a new facility in Pune to meet the rising demand. The expansion increases Hyundai's total production capacity in India to 1.1 million units.

"We are developing our EV ecosystem in India. We are planning to launch four EV models, including the CRETA EV. And we are also localizing EV supply chains like the battery pack, driver train and the battery shell," Kim said.