Hyundai Motor Company Interested in Localization to Gain New Markets

One of the largest automobile manufacturer, Hyundai Motor, could be focusing more on the localization strategy in the upcoming period, as the head of South Korea’s company stated in a recent visit to India and Turkey.

The chairman of Hyundai took a field inspection at the manufacturing equipment in these two locations and said that competitiveness comes from the localization, so the company should focus on it and reach new markets.

Although the Chennai assembly line in India used to manufacture cars for Europe, it will align to the Indian market’s needs and make vehicles that will satisfy the customers’ demands. Meanwhile, the Izmit factory in Turkey will continue to design vehicles for Europe.

This decision could have been influenced by a satisfying number of cars sold in India with a higher 19.2 percent in August compared with the last month, and delivering high quality products remains a top priority for Hyundai.

With a new localization strategy, the automaker could increase sales number and gain new markets in Africa or Middle East.

Source: The Korea Herald

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