The first-generation model will continue to be produced in developed markets such as Korea and the US where it will cater to domestic demand.Hyundai Motor India introduced the second-generation Hyundai Venue, which will be exclusively manufactured in India and exported to multiple international markets, in New Delhi on Tuesday.
The global compact SUV, tailored for developed and emerging markets like the US, Australia, India and Latin America, will see its latest avatar exclusively manufactured at HMIL’s facility in Talegaon near Pune.
According to the company, the first-generation model will continue to be produced in developed markets such as Korea and the US where it will cater to domestic demand.
HMIL is gearing up to export its latest model to 30 foreign destinations, an increase from 27 served by the outgoing model launched in 2019. Markets like Africa, Latin America, the Middle East, and those in the Indian sub-continent are top priorities for the the second-generation model codename QU2i.
“With the second-generation Venue, we will increase our exports from 27 to 30 countries, and there is potential to explore even more markets going forward,” said Tarun Garg, Whole-Time Director and COO, and the MD & CEO designate of HMIL.
The outgoing model, which averaged total monthly production of nearly 9,600 units, saw exports account for about 6 per cent of total output. “While the domestic market remains a key priority for us, the Venue has been among HMIL’s top five exported models, particularly in the last three years,” Garg added.
In a brownfield expansion move, HMIL had acquired the Talegaon facility in 2023 from American carmaker General Motors which had exited India in 2017.
While the company initially committed an investment of Rs 7,000 crore for the site’s modernisation and overhaul activities, it recently revised it significantly to Rs 11,000 crore, with a vision to generate almost 8,000 jobs. As per HMIL, the total investment in the QU2i project is Rs 1,500 crore.
In the first phase, the new plant will operate under two shifts to manufacture 170,000 cars annually. It will solely be dedicated to producing the new Venue, catering to demand from both domestic and overseas markets.
HMIL plans to gradually ramp up capacity to 250,000 units over three shifts, increasing its total manufacturing capacity across its Chennai and Pune sites to over 1 million units by 2030.
