Korean vehicle makers invest in flexible production and add more EVs. Foreign OEMs continue to invest in production for export.
By 2028, the Hyundai-Kia group is forecast to produce around 8.3m units worldwide; outside its Korean home, it has major manufacturing operations in North America, India, China and Indonesia in particular, along with smaller operations in Brazil and Vietnam…
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Tata Passenger Electric Mobility (TPEM) has launched its parent company - Tata’s, first ever own-brand vehicle to mark the inauguration and opening of TPEM’s new vehicle production facility in Sanand, Gujarat, with clear indication of growth in the region.
Maruti Suzuki, Subsidiary of Japanese parent OEM Suzuki and leading carmaker in India, is set to build its second automotive manufacturing plant in Gujarat, investing $4.2 billion to increase production capacity by 167%. The company also plans to roll out its first electric vehicle from the same plant by the end of 2024, and is gearing up to meet rising regional and inter-regional demand for both ICEs and EVs.
Vinfast, Vietnam’s EV leader, invests $2 billion in Tamil Nadu, India, aiming to make it a premier EV hub. Plans include European expansion and presence in 50 global markets by 2024.
