NEW DELHI : The Competition Commission of India (CCI) has approved a proposed $300 million investment by Hyundai Motor Company (HMC) and Kia Motors Corporations (KMC) for stake acquisition in ANI Technologies, which operates ride-sharing company Ola and Ola Electric, under the Competition Act, 2002.

Hyundai Motor India (HMI), the country’s second-largest automaker, expanded its profits by 21.5% to Rs 2,582 crore in the previous fiscal. The profit growth is much better than that of market leader Maruti Suzuki, which reported a 3% decline to Rs 7,500 crore for the year ended March 31, 2019.

A product mix which includes high-segment cars like Creta and next gen Verna ensured a healthy profit growth in FY19. Hyundai also relaunched hatchback Santro in October 2018.

Korea’s Hyundai will continue to make diesel cars in India at least for another 10 years even as rival Maruti has decided to stop using diesel powertrains by 2020.

“Diesel will be sustainable. It will be available till 2030 at least. But if you ask me if it will be sustainable after 50 years from now, I cannot predict,” J.R. Chun, director, engine performance testing, Hyundai Motor Co, said at the launch of the Hyundai Grand i10 NIOS in New Delhi last week.

At the forthcoming IAA Frankfurt Motor Show (September 10-22), Hyundai Motor will display the company’s focus towards the future direction of car design. Inspired by looking back at the brand’s first model in the 1970s, the ‘45’ fully-electric concept car will act as a symbolic milestone for Hyundai’s future EV design.

Hyundai, India's second-largest car manufacturer, has launched its all-new hatchback Grand i10 NIOS priced between Rs 4.99 lakh and Rs 7.99 lakh.

NIOS is the third generation of i10 series to be launched in India. The car is available in two engine options, 1.2l petrol engine, which is BS VI-compliant and 1.2l diesel engine. The engine is the company's first BS-VI petrol engine in India.

Hyundai Motor Company will provide a glimpse into the future of mobility at the 2019 Frankfurt International Motor Show (the IAA, or Internationale Automobil-Ausstellung)—the world’s largest motor show that takes place from September 10-22. The company will showcase its full electric design concept envisioning its future EV design direction. The brand will also give a public world premiere to the all-new i10 and Hyundai Motorsport will unveil its first ever electric racing car.

Hyundai Motor India on Wednesday unveiled the first glimpse and announced the name of its new hatchback, the Grand i10 Nios. The overall design theme of Grand i10 Nios is focussed to create an advanced hatchback with cues from Indian architecture. The name ‘Nios’ means ‘more’ and depicts the persona of the athletic millennial offering more value, more features, more space and more excitement.

New Delhi: Hyundai Motor India Ltd - country’s second largest vehicle manufacturer- has taken over Maruti Suzuki India Ltd as the leading manufacturer of utility vehicles in the July, as a result of the overwhelming response received for Venue, the South Korean company’s first compact sport utility vehicle.

Come October, some dealers of Hyundai Motor India may need to furnish collateral of anywhere between 25% and 50% of the loan amount taken from State Bank of India, depending upon the lender’s internal rating. However, there are dealers who have already furnished the collateral at the time of renewing their loans or getting them enhanced.

Hyundai Motor India (HMIL) said it is working on a new platform to introduce mass market electric vehicles in India and is in talks with local vendors for supply of parts. The company has plans to launch such vehicles in two-three years.

A senior company official said it will have to invest a minimum of $200 million to set up this new platform for mass market EVs.

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