Managing Director of Hyundai Motor Co. stated on Friday that the company plans to launch its small car by 2011 or early 2012. It has been developing a small car under the price band of $3500 that would especially cater to market demands from India and China.
Bajaj Auto has already made a formal announcement for developing a Nano-competitor earlier this month. This Friday Hyundai also made its formal announcement for developing a small car in India. Hyundai has already shifted its manufacturing operations for small cars to India. It has also made India as its export hub for small cars. It also plans to a roll out a new variant of its hatch back model i10 shortly. India shall also have an LPG variant of Santra soon and the project was in development stages.
"We don't have any immediate plan to fight against the Nano," said Hyundai's H.S. Lheem. He also added that it would be a smaller car than Santro and the research work for such a car is already going on in Korea as well as in Hyderabad and Chennai. Hyundai Motors India is currently the second largest car manufacturer in India.
