Hyundai will currently focus on premium mid-size segments.
Hyundai Motor India Managing Director Young Key Koo has divulged to ET that the Hyundai compact SUV will launch in India by the end of the decade.
Mr Koo said:
The subcompact SUV is a very interesting concept. We are looking at it very closely. It will take another three-four years to hit the market, Each market has its speciality. For China, it is Elantra-size vehicle, For Russia, it is the Verna. For India, a compact SUV is very apt.
Most of the SUV's core development will be handled by HMIL's engineers, so as to develop the model with special focus on Indian customers. The sub-4m SUV was previewed as the Hyundai Carlino concept at the Auto Expo 2016.
Hyundai's current focus is on the premium mid-size segments, and have unveiled the latest Hyundai Tucson that will launch in the market this year. Also in the cards are the next generation Hyundai Elantra as well as the new Hyundai Sonata, which was showcased in its hybrid guise at the Auto Expo.
Hyundai will, reportedly, spend Rs 1,500-2,000 crore in the coming three years towards these new products. Mr Koo also expressed interest in launching Hyundai's Genesis luxury brand in India.
[Source: Economic Times]