Maruti Suzuki, India's largest carmaker, entered the commercial vehicle space in the country in July last year by launching light commercial vehicle, the Super Carry. Emerging reports indicate that the second largest carmaker in India, Hyundai, is also planning to enter the CV market.
The Seoul-based Hyundai Motor Company (HMC) is evaluating the prospects of the Indian small and heavy commercial vehicle market, reports Business Standard. The publication also claims that HMC was doing a feasibility study for the Indian market because it saw potential here citing Y K Koo, MD and CEO of Hyundai Motor India Ltd.
Investment plan has not been finalised yet while experts say a fully fledged manufacturing unit may require an investment of Rs 4,000 to Rs 5,000 crore. Hyundai may also use India operation as a base to ship CVs to neighbouring markets just like what Bharat Benz does.
Unlike Maruti Suzuki which is new to the commercial vehicle space, Hyundai commercial vehicle division has a presence in over 130 markets across the world. Reports say Hyundai could enter the Indian CV market initially with trucks and then buses.
The initial models will be high-end trucks competing against the Volvo and Scania range in India. Hyundai CV portfolio has cargo trucks, dump trucks, mixer trucks and tractors trailers in addition to the light commercial vehicles. Among these, range topping Xcient is expected to be the first product for India. The most advanced truck of the Hyundai is sold in 12, 11 and 10-litre capacity engines.
Among buses, Universe series is the most probable series for India. The inter-city coach is sold in Express noble, Space luxury and Space classic variants and it will be pitted against the Volvo 9400 B7R and Scania Metrolink series in India.
Hyundai commenced CV business with buses way back in 1978. The truck manufacturing began in 1984. At present, the CV division has plants in Korea, Turkey and China.
