Hyundai's $15.5 billion India capex plan

Companies No. 74 16 October 2026 · 1 min read

On 13 October 2026, Hyundai Motor Group said it will invest $15.5 billion (about ₹1.48 lakh crore) in India from 2026 to 2032, across manufacturing, research, suppliers and new technology.

The plan spans Hyundai Motor India, Kia India, other group companies and a new investment company. Only about $700 million, for an R&D centre and test track, is priced. The release does not say how much Hyundai Motor India will spend.

Hyundai Motor India has its own plan: ₹45,000 crore by FY30, reportedly 60% for products and R&D, 40% for capacity. Whether this sits inside the $15.5 billion is not stated.

Its 2024 IPO raised ₹27,856 crore, all for the Korean parent, Hyundai Motor Company, which sold existing shares. Hyundai Motor India got none. The ₹1.48 lakh crore is a group-wide commitment, not Hyundai Motor India's budget. For its shareholders, what counts is its own ₹45,000 crore plan and its actual spending of ₹4,266 crore on plant and equipment in FY26.

Bars in ₹ crore, Hyundai Motor India's own plan is ₹45,000 crore: HMIL spent 4,266 on plant and equipment in FY26; its parent got 27,856 from the 2024 IPO; HMIL's own plan to FY2030 is 45,000; Hyundai Motor Group's plan for 2026 to 2032 is about 1,47,634 ($15.5 billion at the RBI reference rate of ₹95.2477 on 13 October 2026).

Bar of the ₹27,856 crore paid in Hyundai Motor India's October 2024 IPO, all of it to its parent Hyundai Motor Company: ₹142 crore, 0.51%, is what the 14.22 crore shares had cost it at ₹10.00 each, and ₹27,713 crore, 99.5%, is its gain over that cost from selling at ₹1,960. HMIL sold no new shares and got nothing.

Sources