Will Hyundai overtake Maruti? | Hyundai India | Maruti Suzuki India | Business News
Maruti Suzuki India, the country's largest automobile manufacturer, may soon face a difficult competition. The reason behind this is that the South Korean corporation Hyundai has hit the jackpot. Actually, Hyundai announced on August 16 that its Indian subsidiary will purchase the General Motors facility in Talegaon, Maharashtra.
1 Million Cars Annually
The company now intends to create one million cars per year. In India, the business sold 552,511 vehicles last year. After Maruti, Hyundai is India's second largest automobile manufacturer. The value of this deal was not disclosed by Hyundai. General Motors is saying goodbye to India with this transaction. In 2017, the firm discontinued selling automobiles in India. However, because the facility was not sold, the corporation was unable to say goodbye to India completely. The corporation had agreed to sell its facility to the Chinese company Great Wall Motor in 2019, but talks between the two fell down last year.
