Anand Mahindra Praises Hyundai’s Big R&D Bet in India, Calls It a Boost for Local Talent
Anand Mahindra: Industrialist Anand Mahindra responded to a post on social media X (formerly Twitter) on Friday. Mahindra concluded his post by saying, "In the end, India will win."
On Friday, Industrialist Anand Mahindra responded to a post on social media X (formerly Twitter). The post stated that Hyundai India is investing heavily in R&D (research and development) in India to compete with Tata and Mahindra. The company wants to create new products quicker and cheaper.
Anand Mahindra said that although this would sharpen competition, Hyundai's move to increase R&D in India is a massive positive move for the entire auto industry.
Mahindra stated that this investment will help attract, train, and retain local engineering talent in India. This could make India a magnet for global high-tech talent. He said, "When such a network of engineering excellence is created in India, it will foster innovation and make India a true competitor to the Chinese auto industry." Mahindra concluded, "In the end, India will win."
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Hyundai Motor recently announced plans to invest $5 billion (approximately Rs 45,000 crore) in India by 2030. This is the company's largest and most aggressive investment plan to date. Under this, the company will expand its capacity, localize R&D, and launch new products.
This is the first time Hyundai has provided a 4-5 year forward investment roadmap for India. The company has invested approximately $6 billion since entering India in 1996.
Speaking to the media in Mumbai, Hyundai's Global President and CEO, José Muñoz, said, "India is not just part of our strategy, India is our strategy. If we are strong here, we are strong globally."
About 60 percent of Hyundai's investment will go toward production and R&D development, while the remaining 40 percent will be used to expand production capacity and upgrade technology.
The company also plans to launch its luxury brand Genesis and finance division, Hyundai Capital, in India.
Jose Muñoz stated that India's growing local demand, strong engineering talent, and low-cost base are three reasons Hyundai is investing such a large sum here.
People also responded enthusiastically to Anand Mahindra's post on social media. People said that promoting R&D in India will not only strengthen our engineering capabilities but also establish us as a global innovation center. Many users wrote that now India will not only be a manufacturing hub but will also establish itself as an automotive innovation lab in the world.
