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| Hyundai Motor Chairman Chung Mong-koo, left, inspects an assembled vehicle at the company's plant in Izmit, Turkey, Tuesday. He said that the plant, along with another one in India, would play an important role in the company's expansion into Europe and the Middle East. / Courtesy of Hyundai Motor |
By Park Si-soo
Hyundai Motor Group Chairman Chung Mong-koo inspected two strategically important plants in India and Turkey over the Chuseok holidays.
He described the plants as "two pillars" of the company's expansion into Europe and the Middle East, calling for employees there to develop products that meet local customers' needs.
The carmaker sees huge growth potential in India, especially for small sedans, while it hopes Turkey will serve as a doorway into the European market.
The company made a strong impression with Indian customers last year with the new i10 compact sedan, and is set to jolt the markets again with its upgraded version, the i20, which will be released during the second half of the year. The model is expected to be exported to other emerging markets such as Africa, Latin America and Southeast Asia.
"We should enter new markets such as India, the Middle East and Africa, with localized products from the Indian and Turkish plants," Chung said in a statement. "Localization is the best recipe for success. To that end, we should try hard to know taste of customers and develop products meeting their expectations."
The chairman, who left Seoul using a chartered flight on Friday, visited the Indian plant in Chennai, Sunday. He inspected the newly built assembly line for the i20 and was briefed about manufacturing and sales strategies.
It was Chung's first visit to India in four years, reflecting his keen interest in the market.
"We were able to increase our market share in the Indian market last year, despite it contracting as a whole, thanks largely to our tight quality control and aggressive marketing campaigns," he said at the plant. "Various signs indicate that the Indian market is reviving. We need to develop highly competitive products to efficiently appeal to increasing customers."
He said the i20 will help bolster the company's presence in India.
Hyundai holds nearly 20 percent of the Indian market, where a total of 2.53 million vehicles are expected be sold this year. Hyundai expects its market share to grow on its aggressive marketing and sales campaigns.
Chung visited the Turkish plant in Izmit, Tuesday. The chairman inspected the assembly line for the i20, and underscored stringent quality control.
"There is nothing more important than quality control to increase market share in Europe," he said. "We should make the utmost efforts to make the i20 the best quality product, which will help upgrade our profile in Europe."
Chung returned to Seoul Wednesday.
