Korean carmaker Hyundai, the second-biggest player in the Indian market, will drive into a $100-million (Rs 6.9 billion) corporate office in Gurgaon. The two-acre office complex on the outskirts of Delhi is under construction and will be home to about eight hundred company executives from early 2020.

"It was a dream to have our own corporate office as we complete two decades here in India... We will shift to the new office in January 2020.

NEW DELHI: Hyundai, the country’s second-biggest carmaker, has come out strongly against the removal of consumer benefits from electric cars and said the move will result in slowing down the pace of electrification.

Y K Koo, MD of Hyundai India, said that new technologies, especially the clean-fuel drivetrains, require government support as well as consumer subsidies to gain traction.

With Maruti bringing the new generation Alto and Hyundai introducing a completely new entry-level model, buyers in India’s small car market, who have had little to choose from in the absence of new launches since five years, would now be spoilt for choice.

“We would be launching a contemporary car that will address the entry-level of the car market,” said Rakesh Srivastava, director - sales and marketing at Hyundai Motor India.

New Delhi, Jun 11 () Hyundai Motor India Ltd (HMIL) today said it has crossed 8 million cumulative production milestone since its inception nearly 20 years ago.

The company achieved the landmark with the rolling out of a unit of its newly refreshed SUV Creta, HMIL said in a statement.

Maruti Suzuki is not just the country's biggest car maker with a fifty per cent market share. It also makes a significantly higher profit on each car than the industry peers including its nearest rival and Korean car maker Hyundai.

Car makers do not share the profit earned per car though they declare the total profit earned in a year.

Hyundai Indian launched the 2018 Elite i20 during the Auto Expo this in February, with a promise that a CVT would be launched in the coming months as well. And now, the Elite i20 CVT has been launched in the country at a starting price of Rs 7.04 lakh (ex-showroom, Delhi), that makes it the most affordable car with a CVT gearbox in the segment. The CVT option will be available in two variants of the 2018 Elite i20 - Magna and Asta, which is priced at Rs 8.16 lakh (ex-showroom).

Korean car maker Hyundai, the second-biggest player in the domestic car market, expanded its profit by six per cent in the 2017 calendar year (CY) to Rs 22 billion. The profit increase is identical to market leader Maruti Suzuki's, which saw a five per cent increase in profit for the year ended March 31, 2018. Hyundai’s sales revenue also grew by six per cent in 2017.

Indian-arm of the Korean automaker, Hyundai Motor India plans to reintroduce its best selling highly popular all-new Hyundai Santro back in the country. While the market debut is still about 4-5 months away, the company is busy testing its new Santro across the country. The car has been spotted several times in Chennai and nearby districts and once it was also spotted testing in the capital.

After almost 20 years, the battle of small tallboy cars is going to intensify again as top two carmakers Maruti Suzuki and Hyundai Motor India plans to bring back new avatar of the Wagon R and Santro hatchbacks. Both Maruti Suzuki Wagon R and Hyundai Santro helped the brands increase their volumes significantly and also paved the way for other successful cars like Maruti Suzuki Swift, Maruti Suzuki Celerio, Hyundai i10, Hyundai Grand i10 and Hyundai i20.

Hyundai Motor said it will cancel $890 million worth of treasury shares, its first stock cancellation in 14 years - a plan that comes amid heavy shareholder pressure to improve returns, restructure and bounce back from dismal earnings.

US activist hedge fund Elliott Management ramped up pressure on the South Korean automaker this week, calling for a holding company structure, a share cancellation as well as the addition of three independent board members.

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