Hyundai is planning to set up a greenfield plant in India. The Koren automaker will spend Rs. 400 crore to build the 1.5 lakh diesel engine plant as it sees rising requirements from the domestic market. The company is looking at prospective sites to build the plant and Gujarat is on the radar. Hyundai India currently imports diesel engines from South Korea.
“While we are channelising more production to India and cutting down exports, the new diesel engines would be fitted into our existing and future cars as local customers are gradually preferring diesel over petrol,” HW Park, MD, Hyundai India said.