Hyundai Motor India on Friday said it has received 2,000 bookings of its upcoming compact SUV Venue on the first day of initiating the process.

The company had opened the pre-launch bookings for the model on May 2. “The Day-1 response is a record booking for an SUV, with an average of 84 Venue cars every hour,” Hyundai Motor India Ltd (HMIL) National Sales Head Vikas Jain said in a statement.

Hyundai Motor Group plans to make Ola Cabs, India’s largest cab aggregator, the test bed for a new range of affordable electric vehicles slated for introduction around 2021, said two people aware of the development, requesting anonymity.

Hyundai is developing the vehicles under its “Smart EV" platform. These “special purpose vehicles" will be designed and developed specifically for ride-hailing applications, they added.

Hyundai India aims to become the largest SUV seller in India with its sub-four meter SUV, the Venue, to be launched on May 21.

Calling it India’s first “connected” SUV, Hyundai hopes to sell 10,000 units of the Venue every month.

South Korean auto major Hyundai is looking at various options for sourcing electric vehicle (EV) components in India, including local manufacturing of battery parts, a top company official said.

The automaker, which is present in India through its wholly-owned subsidiary Hyundai Motor India Ltd (HMIL), said it is also looking for further clarity in Government policy to drive in hybrid models in the country.

Hyundai Motor India is eyeing a leadership position in the compact SUV segment in the country with its upcoming model Venue, a top company official said.

The company will face stiff competition in the sub-4 metre compact SUV segment from the likes of Maruti Suzuki Vitara Brezza, Tata Motors Nexon, Mahindra XUV300 and Honda WR-V.

Hyundai Motor India on Wednesday announced the name of its all-new connected SUV as Venue. Venue, which was earlier codenamed as QXi, is the latest entrant in the Indian compact SUV segment to take on the likes of market leader Maruti’s Vitara Brezza, Tata Nexon, Ford’s EcoSport, M&M’s XUV300.

After months of deliberations, Hyundai Motor India (HMIL) has finally reached a fresh three-year wage agreement with the recognised union, United Union of Hyundai Employees (UUHE). As per the agreement, technicians will receive an average salary increase of Rs 25,200 per month to be paid over three years. Over 2,200 workers are likely to benefit from the agreement.

NEW DELHI: Korean auto major Hyundai Motor India Limited (HMIL) Monday inked a wage settlement pact with technicians at its Chennai facility raising average monthly salary by Rs 25,200 for a three-year period till March 31, 2021.

The agreement will come into retrospective effect from April 2018. As per the agreement, technicians will receive 55% of the increased salary in the first year, 25% in the second year and 20% in the third year.

Hyundai Motor Group companies’ shareholders rejected on Friday Elliott Management’s demands for a massive special dividend and board seats, dealing a blow to the U.S. hedge fund’s campaign to shake up South Korea’s second-biggest family-run conglomerate.

Although Hyundai fended off the threat from Elliott at the closely watched vote, it still faces a daunting challenge of winning shareholder support for a planned restructuring that should aid the handover of the group’s reins to heir apparent Euisun Chung.

India’s overall export-import (Exim) container trade increased 6% during the fourth quarter of 2018 on the back of spike in refrigerated cargo by China.

According to the Maersk India trade report for the quarter ended December 31, 2018, the imports grew 9% in the same quarter.

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