India’s Largest IPO in Stock Market History: “Key Hub for Electric Vehicles”

Hyundai Expects to Raise 4 Trillion Won from Indian IPO
Euisun Chung Meets with Prime Minister Modi and Pledges Investment
Expanding Electric Vehicle Production to 1.5 million Units
Cultivating India as a Global Export Hub ‘‘,
, ‘Today (the 22nd), Hyundai Motor Company’s Indian subsidiary was listed on the Indian stock exchange, marking the largest IPO in Indian stock market history.’,
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, ‘Let’s discuss the listing of Hyundai Motor’s Indian subsidiary with Kang Mi-seon from the Ministry of Industry.’,
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, ‘Euisun Chung, Chairman of Hyundai Motor Group, was also present at the event held in India. What does this listing signify for Hyundai and the Indian market?’,
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, ‘‘,
, ‘This IPO is Hyundai’s first case of overseas stock exchange listing.’,
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, ‘It clearly shows that Hyundai views India as a key strategic location for the electric vehicle market.’,
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, ‘In terms of size, it’s the largest in Indian stock market history, second only after the joint venture of Japanese automaker Suzuki and the Indian government, Maruti Suzuki.’,
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, ‘The industry anticipates that Hyundai could raise at least 4.5 trillion won from the IPO.’,
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, ‘Hyundai first entered India in 1996 and has since become the second-largest car company in the country.’,
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, ‘The event today included the traditional ringing of the bell. Let’s listen to what Euisun Chung, Chairman of Hyundai Motor Group, had to say.’,
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, ‘[Euisun Chung/Chairman of Hyundai Motor Group: We are taking yet another significant step. Today’s public offering demonstrates that Hyundai Motor’s Indian subsidiary is a core part of our operation in India, and it will enable both India and the subsidiary to continue growing sustainably together.]’,
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, ‘‘,
, ‘Today’s stock price fluctuated around the offering price. With the 4 trillion won from the IPO, what specific changes is Hyundai planning to pursue in the Indian market?’,
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, ‘‘,
, ‘First, they plan to establish an annual production capacity of around 1.5 million vehicles in India. This is slightly below Hyundai’s domestic production (1.9 million vehicles) but similar to Kia’s (1.59 million vehicles).’,
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, ‘They are particularly focusing on expanding their electric SUV lineup.’,
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, “Starting from January next year, they’ll produce and sell the electric SUV ‘Creta EV’ in India, with plans to launch five electric vehicle models by 2030.”,
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, ‘The Creta is Hyundai’s bestseller in India and has been selected as the car of the year for its popularity.’,
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, ‘They also plan to localize key components to enhance market competitiveness.’,
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, ‘Hyundai intends to localize battery cells and expand their electric vehicle charging infrastructure in India over the long term.’,
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, ‘‘,
, ‘What is India’s role in Hyundai’s global strategy? It seems like it’s more than just strengthening sales in the Indian market.’,
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, ‘‘,
, ‘Their strategy is to make India a global electric vehicle hub, leveraging not only the domestic market, which is one of the top three in the world, but also as an export hub for emerging markets like the Middle East, Africa, and Southeast Asia.’,
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, “Rather than focusing on China, they’ve opted for a ‘selection and concentration’ strategy with India.”,
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, ‘Hyundai previously operated five factories in China but has been selling them and shifting focus to India.’,
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, ‘‘,
, ‘At the listing today, Chairman Euisun Chung also met with Indian Prime Minister Modi. Were there any results from this meeting?’,
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, ‘‘,
, “Chairman Chung pledged ongoing investment, particularly emphasizing contributions to India’s electric vehicle ecosystem.”,
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, ‘He also invited Prime Minister Modi to the opening ceremony of Hyundai’s Pune plant in India next year.’,
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, ‘The Indian government is currently promoting an aggressive electric vehicle growth policy.’,
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, ‘They aim to increase the share of electric vehicles to over 30% of total car sales by 2030, driving electrification efforts.’,
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, ‘This year, they also announced substantial support measures, such as reducing electric vehicle tariffs from a maximum of 100% to 15%, aligning well with Hyundai’s long-term growth strategy.’,
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, ‘‘,
, ‘Thank you for your insights.’