Hyundai to invest Rs 1,000 crore

Hyundai Motor India (HMIL) has planned to invest nearly Rs 1,000 crore in the next 15 months to augment capacity to 2.5 lakh units and aim over 12 per cent rise in turnover from Rs 4,000 crore last year, the company president B.V.R. Subbu told a news conference here.

While rolling out a new-look Santro 1.1, Subbu said “the Indian subsidiary of HMIL will also be turned into a global base for manufacturing compact cars”. Known as Santro Xing, it comes with design changes including transformed exterior, large integrated bumpers, new headlamps, front and rear power windows and new instrument panel.

While the four manual variants of Santro Xing’s would come with a price tag of Rs 3.29-3.92 lakh (ex-showroom, Delhi), the automatic version is priced at Rs 4.30 lakh.

On whether HMIL would discontinue the earlier versions of Santro Zip Plus, Subbu said that “phasing out entirely depends on consumer preference”.