Good morning. Namaste. It is with great pleasure to welcome you all to the very first investor day of HMIL. I am Hariharan, Head of Investor Relations. We are truly delighted by your presence. Whether you are here with us in person or joining virtually, we sincerely appreciate your interest and engagement. Before we move ahead, let's take a moment to look back at our journey through this corporate event. AV, please.
There's a land on this earth that has more colors than the spectrum itself. One of the oldest civilizations. India, Hyundai's beautiful home. One million Creta on Indian roads.
Hyundai today is no longer a mere car brand, it's a value united here.
Hyundai continues to grow its commitment to India. Hyundai is committed to the progress for humanity. Hyundai is committed to the progress of India.
Thank you. The AV we just witnessed reiterates our commitment to the progress of India and humanity. Driven by innovation and guided by the spirit of India, we are redefining the way the nation moves, crafting pathways that are smarter, safer, and more sustainable. Since our inception in India, Hyundai has demonstrated the strength of its product innovation, setting new benchmarks in technology, quality, safety, and performance with strong HMC parentage. The trust and loyalty we earned over the years from our customers truly define us as a preferred car brand in India. The theme for this Investor Day, as it says, "The next phase: from strength to scale," reflects a strong business foundation and fundamentals we have built over the past three decades. The next phase is going to be pivotal in our journey, with these strengths being reinforced to scale up business horizons and accelerate growth.
Today, we have with us our key management from Hyundai Motor Company and Hyundai Motor India Limited. Our leadership team will share their insights about the dynamic business landscape, Hyundai's strategic priorities, and the key growth drivers that are shaping our growth trajectory. We are confident that these strategic directions will renew confidence for sustained value creation. We will now proceed with the event presentation delivered by our distinguished leaders, after which we will have the Q&A session. Should you wish to participate in Q&A, please scan the QR code placed on your table. Please note that the QR code is already live and will remain open until 11:30 A.M. Without further ado, I now invite Mr. Jose Munoz, President and CEO of Hyundai Motor Company, to take the session further. Thank you.
Thank you, Hari. Good morning and welcome to Mumbai. Namaste. It is wonderful to be here in India for Hyundai Motor India Limited's first-ever CEO Investor Day. I often say it is a great time to be at Hyundai, and it's especially true right here in India. Today marks several significant milestones. Following our landmark IPO last year, the largest of 2024, we're celebrating 30 years of success in this market. We are here to share our vision for the next chapter and one of Hyundai Motor Company's most important growth stories. Over the next 90 minutes, my colleagues and I will walk you through HMI 's compelling future. We'll talk about our 30-year heritage, our strategic advantages, our exciting product pipeline, the customer experience that sets us apart, our world-class manufacturing capabilities, and our financial roadmap to 2030. Since our establishment, we have reached several significant milestones.
In 1999, we became the second largest automobile manufacturer in India, marking a pivotal moment in our journey. In 2015, we launched the Creta, our most successful product, which quickly rose to become the number one in the highly competitive mid-SUV segment. Building on this legacy of success, last year we achieved another landmark by successfully completing India's largest-ever IPO, underscoring our strong commitment and responsibility to drive sustainable value creation for all our stakeholders. Before we dive in, I want to thank the entire HMI team. Your dedication, your passion, and your commitment to treating every customer like our honored guests is what makes this company special. First, let me set the context for why India matters so much to Hyundai Motor Company's global strategy. Our success starts with our beautifully designed products.
Hyundai is the only brand in India to win eight Indian Car of the Year awards, twice as many as the next brand. We are proud of the award-winning product lineup, starting with the i10 back in 2008 all the way to the Exter in 2024. In addition to the ICOTY Awards, Hyundai's IONIQ 5 has earned India's Green Car of the Year award. As I tell our global teams, it doesn't matter if you speak English, or Hindi, or Punjabi, as long as you can communicate in the universal language of data. The numbers tell the story. We've sold over 9 million cumulative cars in India over the past 30 years. We have more than 3,600 touch points serving customers across the country. In fiscal year 2024, we were the number two brand, and we are number one in the most important mid-SUV segment. There is more.
HMIL is India's number one cumulative automotive exporter. We have shipped 3.7 million vehicles to over 150 countries in key regions like Central and South America, Middle East and Africa, and other countries in Asia. That's made in India, made for the world. This aligns perfectly with the vision of Honorable Prime Minister Shri Narendra Modi's Make in India initiative. We are not just making vehicles for Indian customers; we are making India a global automotive manufacturing hub. From fiscal year 2021 to 2025, HMI grew total volume by 7% per year, reaching 762,000 units. Revenue grew 14% annually to INR 692 billion and $8.3 billion. EBITDA expanded from 10% to 13%, demonstrating sustained double-digit EBITDA margins. Lastly, return on capital employed hit 34%, and return on equity reached 28%. When you look at the competitive context, while others scaled down or exited the market, we doubled down on India.
We invested more, and we are committed to our presence in India. Now, let me zoom out and show you where HMIL fits in the global picture. From product development to manufacturing, from brand to technology, HMI has five key rights to win. First, the power of the group. With over 50 affiliates across our value chain, we achieve unparalleled efficiency and scale, enabling us to confidently take strategic bets on the future of mobility. Second, our leading product lineup. We will have 26 launches by 2030, with over 50% of our portfolio comprised of eco-friendly vehicles, demonstrating our leadership in driving sustainable innovations. Third, localized operations. With a 100% localization ratio and expanding EV supply chains, our embedded functions in sales, design, and supply chain management respond to local market demands with agility. Fourth, manufacturing efficiency.
By 2028, we will expand Pune plant's capacity to 250,000 units, implementing advanced manufacturing technologies to boost productivity and quality. Fifth, India as our export hub. As the number one cumulative automobile exporter in India, HMI aims to grow exports by 30% of total production by 2030, strengthening our global footprint. Our parent company, Hyundai Motor Group, is now the world's third largest automotive group by volume and the second most profitable, ahead of Volkswagen. That doesn't happen by accident. It happens through disciplined execution, customer focus, and strategic clarity. Globally, we are a top five brand in 26 markets, top three in 12 key markets. We have more than 20,000 engineers worldwide, 5,400 dealers, and 17 production plants. HMI has something unique: access to over 50 affiliates within Hyundai Motor Group.
From steel production to robotics, from logistics to finance, from automotive parts to cutting-edge AI, this integrated ecosystem gives HMIL capabilities no other automaker in India can match. This is the power we're bringing to India as we execute our ambitious 2030 roadmap and move from strength to scale. HMI offers full product coverage across segments. 14 nameplates today, from the Grand i10 Nios to the IONIQ 5 . We are not just participating; we are leading. The Creta defines the midsize SUV segment in India. The Venue sets the standard for compact SUVs. By 2030, we'll offer the most comprehensive powertrain portfolio in the industry, spanning IC, CNG, EV, and hybrid technologies, with more than 50% of our portfolio powered by cleaner, more sustainable powertrains. This makes us one of the very few mass-market OEMs in India offering this level of diversity and choice to customers.
This brings me to one of our greatest strengths: deeply localized operations aligned with Make in India. 100% of our production is local. Every vehicle sold in India is built in India. Manufacturing, R&D, design, and sales are all embedded here, creating jobs, building capabilities, and strengthening the entire automotive ecosystem. Our Chennai plant has operated for over 25 years. Our Pune facility, opening later this year with 250,000 units of capacity, will be a multi-model facility showcasing our software-defined manufacturing. Localization goes deeper. We are localizing the entire EV supply chain, working with tier 1 to tier 3 suppliers. This creates jobs, builds capability, and gives us a cost structure to compete and win. We are adding 250,000 production capacity in India. Pune represents 20% of Hyundai Motor Company's additional global capacity by 2030 and will play a pivotal role in augmenting capacity for Hyundai globally.
This will enable us to reach another critical milestone. India will have its first locally manufactured dedicated electric SUV by 2027. Designed in India, engineered in India, built in India for Indian customers. We are progressing toward a software-defined factory. Our new Pune facility will feature 100% automated body backing, smart logging assembly systems, and AI-based quality control. By 2026, Chennai will adopt technologies from HMGX 2.0, real-time connected manufacturing with factory business intelligence, increased assembly automation, and AI-based inspection and quality control. By 2030, we are targeting HMGX 3.0, virtual autonomous manufacturing, which will cascade down to India shortly after. This isn't just about building more cars. It is about building better cars, more efficiently, with enhanced worker safety and ergonomics, and with the manufacturing excellence that positions India as a global hub.
As for EV localization, phase I focuses on local vehicle assembly at our Chennai plant, with our first dedicated EV launching this year. We are also establishing a flexible battery plant with locally assembled battery packs starting this year. Phase II will focus on deep supply chain localization, such as high-technology e-power train parts, working with local vendors for battery cells and sub-parts. This deep-dive localization strategy isn't just good for business; it is our commitment to building a sustainable, self-reliant automotive ecosystem in India. HMI is India's number one cumulative automotive exporter, and we are reinforcing this position as a key export hub for Hyundai Motor Company. Again, that's made in India, made for the world. India's proximity allows it to be a launchpad for emerging markets, enables on-demand product flexibility, and our scale delivers global cost competitiveness.
By 2030, we are targeting exports at up to 30% of total production. The geographic split is strategic: 50% to the Middle East and Africa, focusing on hybrids, sedans, and SUVs, as well as entry EVs; 40% to Central and South America, again with a focus on hybrids and entry vehicles; and the remaining 10% to neighboring countries in Asia. Our export volume has grown at 12% annually, significantly faster than domestic industry growth of 9.6%. Here is the key: average selling price for export has been on average 6% higher than domestic sales, which means exports are highly beneficial to profitability. This isn't just about volume; it's about enabling HMI to grow sustainably and profitably. Let me put HMI's strategic importance in context. In 2020, India represented 11% of Hyundai Motor Company's global sales and was our fifth largest strategic region.
In 2025, it's 15% and our third largest region. By 2030, HMIL is poised to emerge as the second largest region in sales volume globally within Hyundai Motor Company, behind only North America. This isn't incremental growth; this is a strategic transformation. The Indian automotive industry is projected to grow 5.2% annually through 2030, reaching 5.6 million units. Domestically, HMI will grow at 7% annually, significantly outpacing the market, reaching 15% domestic market share. This is before we even account for the additional growth from our exports business. Now, let's talk about products. Our product strategy is focused on providing the greatest return on our investments: high-profit product segments and technologies. India's profit pools are shifting dramatically. Today, internal combustion engines on SUVs and cars represent the majority of India's automotive profit pools.
We have a strong presence in these core markets, with approximately 14% market share in the ICE car segment and 18% of the ICE SUV segment in fiscal year 2025. We also have established our presence in the growing EV SUV space, with 6% market share. Here is where it gets interesting. As we look towards 2030, not only will the overall profit pool grow, the most dramatic growth is in electrified vehicles. BEV SUVs will grow 500% from 2025 to 2030. Hybrid SUVs will grow 600%. Hybrid cars will grow 2,300%, and MPV EVs will grow 15,000%. Despite this, ICE profits will still represent nearly half of the industry. Furthermore, MPVs are a key segment we are not in today that will continue to represent a sizable portion of the market. This is a wide space opportunity as the segments shift towards electrification.
We are positioning HMI to capture these high-profit pools while protecting our leadership on ICE cars and SUVs. Over the next five years, we are expanding from 14 nameplates to 18. This is a combination of streamlining our existing portfolio, strengthening our SUV lineup, and entry into new exciting segments, all with the focus of capturing the most important profit pool opportunities for Hyundai. We are planning 26 total launches by 2030: four over the next year, eight in the fiscal year 2027 and 2028, and 14 over the following two years. When we look in more detail, this will include seven new nameplates with India-centric products designed specifically for Indian customers, six full model changes, six derivative model launches, and seven product enhancements over the next five years. By 2030, we will offer 13 ICE models, five EVs, eight hybrids, and six CNG models.
This diversified portfolio allows us to meet customers wherever they are in their journey, giving us the flexibility to adapt to policy changes, customer preferences, and market dynamics. Here is the transformation we are driving towards. By 2030, the industry sales mix will be 72% SUVs and MPVs. HMI's sales mix will be over 82% SUVs and MPVs. We are not just following the market, we are leading it with a robust product strategy and customer-centric approach. The numbers are dramatic. In 2019, our mix was 23% SUVs, 14% sedans, 63% hatchbacks. By 2030, our mix will be 82% + SUVs and MPVs, 8% sedans, and 10% hatchbacks. That's an increase of 21.8% annually in SUVs while actively managing down lower margin segments. This is disciplined portfolio optimization focused on profitability. Industry powertrain contribution is also transforming, and we are leading this transition.
In 2019, we were 97% ICE and 3% eco-friendly. This year, we are 86% ICE, 14% eco-friendly. By 2030, 45% ICE with eco-friendly powertrains, reaching more than 50% of our portfolio. This makes HMI one of the very few mass-market OEMs in India offering such comprehensive powertrain diversity, reflecting our commitment to future-ready mobility and cleaner, more sustainable technologies. This flexibility is strategic. It allows us to meet customers where they are, adapt to policy changes, and capture growth across all powertrain technologies. Hybrids are critical. We are expanding from zero hybrid SUVs today to eight by 2030, with coverage across all segments, from compact and affordable hybrids to larger and premium SUVs. Hybrid technology delivers the perfect balance: better fuel efficiency, lower emissions, and no range anxiety. It is the ideal transition technology for Indian customers. Products alone don't win. You need an ecosystem that supports them.
First, our fewer bigger better strategy is consolidating dealer partnerships efficiently. We are expanding with stronger dealer partners, fostering dealer groups with more than 3,600 touch points across the country, pursuing rapid rural expansion with 70% penetration in rural India. Our 2030 vision includes 85% district coverage across India, 30% rural sales contribution, deepening our reach across India, and 15% network share. This inclusive growth strategy ensures we are present wherever customers need us, from metros to tier 2 cities to rural markets. Next, we are enhancing brand value through smart and connected after-sales experiences. As a result, customer retention has improved from 71% - 77%, and extended warranty penetration has reached 54% from 37% over the past three years. These aren't just metrics; they are proof that our service philosophy is working. I am happy to announce that Hyundai Capital is entering India. We'll start with a phased approach.
Phase I by Q2 2026, wholesale launch with inventory finance and working capital. Phase II, retail launch with loans, lease, and rentals, and fleet solutions. Phase III, multi-cycle solutions and new mobility offerings. Sales finance drives residual value, customer retention, and brand value. We've experienced a 50% improvement in brand loyalty and retention in markets with sales finance offerings. The Indian market today already has 80% penetration that we are ready to capitalize on. This isn't just financial services. It is a strategic enabler of growth and customer satisfaction. We have also deployed Hyundai India Insurance Broking to enhance value through integrated insurance solutions. Business performance includes 5 million policies issued and 1.3 million claims assisted. Key initiatives include an AI chatbot, pickup and drop cover, and AI-based pre-inspection service.
Lastly, we are also exploring micro-mobility in partnership with TVS Motor, an iconic three-wheeler with advanced safety and ergonomic principles, as a people's mover with creative design and intuitive functionality. The goal is to assess the viability of micro-mobility business and establish a business case for serving even more Indian customers. This comprehensive ecosystem approach, combining product development, dealer network development, differentiated after-sales and service, sales finance and insurance, and micro-mobility positions us to win across every customer touch point. This is how you build lasting relationships, fully embodying our philosophy of sun-nim, treating customers like honored guests. Next, I'd like to bring up our Managing Director of Hyundai Motor India, Mr. Unsoo Kim.
Thank you, José. A very good morning, everyone. First of all, I would like to thank Jose for your visionary guidance and unwavering support in shaping HMIL's future growth.
Your leadership has been instrumental in setting a clear direction and inspiring us to aim higher with a purpose and competence. Thank you again, José. Now coming to the presentation part. The world around us is evolving faster than ever before. We are not just in the era of opportunity, but also navigating through the age of profound uncertainty, where a rapid shift in global dynamics challenges our ability to adapt and innovate, faster to remain ahead of the curve. As we navigate these tides of transformation, our collective focus must remain on building a sustainable growth model that balances profitability with purpose, efficiency with empathy, and competitiveness with responsibility. At Hyundai, we are strategically aligned to these thoughts, which are reflected in our quality of growth approach. Our 2030 transformational growth roadmap is a true reflection of navigating all the obstacles, uncertainties, and competition with resilience.
Hyundai is embracing the journey by strengthening our core competency and creating new opportunities. This spirit of innovation and resilience is reflected not only in our strategies, but by meaningful recognition across every sphere of operations, whether it is the innovation in products and technology, excellence in manufacturing, or leadership in customer satisfaction. Each accolade is a testament to the spirit of our people and the unwavering commitment that drives Hyundai forward every single day. The recent IPO listing is indeed another feather in our cap, a proud moment that shows the trust of stakeholders. It reflects the transition into a new era of growth, transparency, and broad opportunities. In a short span, we have marketed our presence through inclusion in key global and Indian stock market indices.
We see this as both a validation and a responsibility to continue scaling business horizons with a purpose driven by deep commitment to contribute meaningfully to the nation's growth and progress. India is already the world's fourth largest economy and is set to become the third largest by 2028, with a GDP per capita of $3,750. India boasts of a young and multiplying workforce that comprises the second largest internet user base globally, creating a connected consumer ecosystem unlike any other country in the world. With over 491 million active UPI users, India leads the world in fintech adoption. With more than 6.6 million km of road network, India has the largest road network across the globe, redefining the scale of mobility. India has become the world's third largest automobile market, driven by rising income and a young, aspirational workforce.
With just 34 cars per 1,000 people, the growth potential is immense. As infrastructure expands and customer demand accelerates, the passenger car segment is emerging as a sunrise sector. We are scaling in step with the growing demand, strengthening our capabilities, expanding our reach, and aligning our offering to meet the evolving aspirations of Indian customers. As the India economy accelerates and the automotive sector expands, our responsibility grows too, not just to seize opportunities, but to shape it responsibly, which brings me to another cornerstone of our business: sustainability. Sustainability is deeply rooted in our core values. It is not just limited to manufacturing, but flowing across our ecosystem. We are progressing towards our long-term vision of achieving carbon neutrality by 2045. Hyundai has remained on the forefront to support and create benefit to society. Our multifaceted CSR initiatives are creating visible impact in the community.
Our strong governance framework ensures complete transparency and ethics in our operations. Over the past 30 years, we have built a strong foundation marked by resilience, innovation, and consistent growth. The next 30 years will be transformative. I would say we are standing on the verge of this transformation journey. One thing is clear: growth is not just a goal; it is our mindset. We are very positive on the Indian market. With the unwavering support of our parent company, we are entering a new era, one defined by scale, ambition, and a global vision. Thank you. Now, I hand over to Jose again. Thank you. Thank you, Jose again.
Thank you very much. Ladies and gentlemen, as you can see, we have ambitious plans for Hyundai in India. With Mr.
Unsoo Kim and myself on the stage, I'd like to bring up another individual who has been instrumental in our success: Mr. Tarun Garg. Unsoo is our current MD and CEO. Under his leadership, we've laid the foundation for our successful business in India, with 9 million cumulative sales, number two market share, and a landmark IPO, the largest of 2024. Unsoo is ready for his next challenge and is going back to our headquarters in Korea. We thank you for all your hard work and dedication to Hyundai India, and we wish you the best in your next role.
Thank you.
Tarun, we are handing the keys to Hyundai Motor India over to you now.
Thank you. Thank you so much.
Ladies and gentlemen, I'm very pleased to announce that effective January 1st, Tarun Garg will be the new Managing Director and CEO of Hyundai Motor India. Tarun will be the first Indian national to take this leadership role since the establishment of HMI 30 years ago. I have the utmost confidence in Tarun. He is a transformative leader who brings a combination of progressive vision and deep understanding of the Indian market. Tarun, I'm confident you will get us back on top very quickly. Please congratulate Unsoo and Tarun. Very good. Tarun, over to you.
Thank you. Thank you. Thank you, José. Thank you. Thank you. Good morning, ladies and gentlemen. I'm overwhelmed and falling short of words on this momentous occasion of my life. This is surely a huge honor, as well as a big responsibility. At the outset, I'd like to thank the Hyundai Motor Group leadership, our Executive Chair, Mr. Eui-sun Chung, Vice Chair, Mr. Jaehoon Chang, and of course, my mentor, HMC President and CEO, Mr. José Munoz, for showing so much trust in me and giving me this huge opportunity. I assure you, sirs, that I will do everything possible and more to shape Hyundai's next chapter of growth in Bharat with speed, innovation, empathy, humility, perseverance, sustainability, and above all, complete ownership.
President and CEO José, the roadmap set by you today is absolutely clear, and me and my team will execute the same under your aerial guidance. I would, of course, like to thank Mr. Unsoo Kim for his immense support to me over the past four years. Sir, I will always remember you as a great teacher who guided me at every step and who has made a profound impact on me. Thank you very much, sir. Now, coming to the presentation today, let me take you all through HMIL's illustrious journey in Bharat, which has been defined by deep cultural understanding, operational agility, and unwavering trust, which has helped us to win big in this great country. It is a matter of great pride for us that we have become a home brand for our fellow countrymen.
Over the past so many years, we have actively blended our global identity with India's cultures and passion. Our internal brand tracks define our imagery as prestigious and advanced while being youthful, and we stand amongst the most preferred auto OEMs in India. More than 12 million cars on road and a high repeat purchase rate exemplify the fact that our endeavor towards fandom is bearing fruit. Our communities become stronger with every passing year. Our vision is to continue working across touch points and become a highly trusted brand in India. Working towards this vision of becoming the most trusted brand, HMIL resonates deeply with first-time buyers who now make up over 40% of our sales. In fact, today, 59% of our sales are coming from young and trendy buyers, reflecting our strong connection with the youth of the country.
Additionally, HMIL attracts customers from across various work profiles, indicating wide acceptance of our products. Our N-line range is sparking excitement amongst driving enthusiasts, while non-white color variants now contribute 44% to our sales, reflecting evolving tastes and bold choices. In our endeavor to connect with young and diverse consumers of India, we have engaged iconic brand ambassadors like Shah Rukh Khan, Deepika Padukone, Smriti Mandhana, Aditya Shoak, Jemimah Rodrigues, and now Pankaj Tripathi who powerfully embody aspiration, authenticity, and trust for millions across India, while also showcasing Hyundai's commitment to gender diversity and inclusivity. We have cultivated high-decibel and emotionally resonant associations across entertainment, sports, and experiential platforms, integrated into the happy moments of consumers across this diverse land. For us, connecting with our audience is a key priority. Across prominent social media, we congregate the largest social media follower base amongst OEMs.
We have had three years of top scores in our brand tracks, first rank globally in HMC Global Mystery Shopping and Service, and second rank in sales, and 90% + NPS scores across sales and service area. This gives us a very strong brand position, which has now become a prime reason for customers to buy Hyundai cars. This strong connection would not have been possible without consistent presence and visibility across the country. With over 3,600 + touch points, including 1,400 + sales, 1,600 + service, and 600 + Hyundai Promise, HMIL's network spans across 1,050 + cities, covering 77% districts, with a network share of 13%, making the brand feel accessible, familiar, reliable, and an intrinsic part of our customers' everyday lives.
Further, to cater to the new-age, tech-savvy customers, we have solidified our digital presence through myHyundai application, having more than 3 million users and Click-to-Buy with over 23 million monthly interactions, offering end-to-end digital solutions. HMIL is leveraging a fast-evolving rural landscape, with 48% of our network in rural areas, resulting in 23% sales contribution. With over 70% SUV contribution and 46% first-time buyers in rural, HMIL continues to be the preferred choice of the young, fast-growing, and evolving Bharat. While our network connects with customers, it is our products that stay with them every day on every journey. That is where our promise to deliver safe, premium feature-loaded vehicles with advanced technologies truly lives. Hyundai has taken a lead in this area by making advanced features such as ADAS, sunroof, six airbags, and multiple transmission options widely available across models and trims, making aspirations accessible for masses.
Innovations like digital key, vehicle passport, and in-car payments further enhance the customer experience. To keep our products fresh and continuously add value, we have introduced 20 + product interventions in fiscal 2025, as well as in fiscal 2026 so far. From dual-cylinder CNG technology in Exter and NIOS to sunroof and dash cam integration across key trims, night editions in seven models, and more, these innovations reflect our unwavering commitment to enhancing customer experience and satisfaction. Ladies and gentlemen, it is with great pride that I announce the rollout of our first vehicle, the all-new Hyundai Venue, from state-of-the-art Talegaon plant here at this prestigious forum. As a perfect example of what enhancing customer value means to Hyundai, we are thrilled to give you, our valued investors, some exclusive insights about this latest tech marvel from Hyundai.
Equipped with a roster of new features like level two ADAS, 12.3-inch dual infotainment and cluster displays, advanced over-the-air update capabilities, and super strong body structure, this is not just a full model change of a super-hit SUV. It is a bold leap in design, technology, safety, and driving experience. For more details, stay tuned with us post this Diwali. MPVs and off-roaders now contribute nearly 20% to the industry, driven by rising demand for lifestyle, practicality, and rugged appeal. Ever since our IPO, many of you have asked about the possibility of our presence in these segments. I'm pleased to confirm that Hyundai will enter both these spaces in due course with products designed to redefine expectations and make a meaningful impact. India's EV landscape is evolving rapidly, and customer expectations are rising just as fast. EV contributions reach around 6% in August/September, as against 2.5% last year.
To build on this momentum, Hyundai will launch its first dedicated localized EV in India. Bold in design, with uncompromised safety, packed with best-in-class technology like level two ADAS features for driving and parking, along with advanced controller OTA capabilities for seamless updates, this EV has been engineered to delight. The EV will offer a competitive real-world range, along with multiple battery options for both urban commutes and highway drives to match diverse lifestyles. We will surely live up to our promise to make electric mobility accessible, exciting, safe, and above all, truly Indian. With our holistic approach, we are not just working on products, but building an entire EV ecosystem to empower India's electrification journey. Expanding Hyundai's fast public charging network, we have already established more than 125 DC fast chargers and 946 AC chargers across 232 cities in India.
Our myHyundai app acts as a unified hub, giving customers access to more than 22,500 charge points nationwide, with the ability to book slots and make payments at 18,500 locations. Our products, Creta Electric and IONIQ 5, continue to deliver exceptional real-world range, making EV ownership truly hassle-free and seamless. By 2032, we will further strengthen our EV ecosystem with 600 + fast charging stations across dealerships, as well as strategic locations and highways, along with the introduction of five new EVs. Our battery assembly unit at Chennai plant is already operational, and partnership with Indian cell maker will ensure cost-efficient EVs in the near future. Hyundai's winning story is further propelled by GST 2.0, fueling consumer demand and confidence. We thank the Honorable Prime Minister of India, Shri Narendra Modi Ji, for this bold and consumer-centric reform.
This reform unlocks growth opportunity for Hyundai, with around 60% of our volumes now benefiting from the 18% GST slab, especially entry and subcompact SUVs like Exter and Venue, which offer a perfect balance of aspirations and affordability. HMIL will further leverage these reforms by introducing new trim options with more features for customers to upgrade and add to at the same EMI that they were paying pre-GST 2.0 reforms. Ladies and gentlemen, we are driven by our global vision of progress for humanity. Through our Samarth initiative, we are building an inclusive, barrier-free society for people with disabilities. We are proud to support para-athletes who have already earned several international and national medals in para championships, most recently Hital Devi's gold at the Para World Archery Championship and Yogesh Kathunya's silver in discus at the World Para-Athletic Championship.
Hyundai Motor India Foundation, HMIF, our CSR arm, has made several key impactful activities across India, like planting 500,000 trees, empowering underrepresented artists, and delivering health care and education to more than 2.1 million people. The Hyundai Center for Cancer Genomics at IIT Madras, India's first cancer tissue biobank, underscores our commitment to equitable health care and scientific advancement. Before I conclude, let me sincerely thank each one of you for your presence today and your unwavering support to us. With Hyundai, you are investing in a movement that makes aspirations accessible to millions. As we move forward, Hyundai will continue its winning streak, growing with Bharat, aligned in values and purpose, and most importantly, with our customers at the heart of it all. Thank you once again. May we all be blessed with good health, continued success, and shared prosperity. Thank you very much. Thank you very much.
Now, over to my colleague, Jang Hwan Kim, Executive Vice President, HMC.
Good morning. Namaste. Hyundai Motor Company holds the most diverse electrification portfolio among all global OEMs. We have established all relevant technologies so we can maximize customer safety and value. The journey began in 2009, when Hyundai became the first automaker to apply lithium-ion batteries in automotive applications. In 2011, we introduced a new kind of hybrid system, so-called TMED, which achieved the world-leading performance within its class. Featuring key enabling technologies such as battery, power-electric systems, and control algorithms, it became the cornerstone of our leadership in both battery EVs and hydrogen fuel cell EVs. Since its introduction in 2011, our E-GMP EV platform has been a masterpiece, earning numerous awards from leading global organizations. Building on this technological advantage, Hyundai will continue to pursue innovation for our customers, including extended-range EVs, luxury hybrids, next-generation EV platform, and new fuel cell systems.
Moreover, Hyundai is committed to taking a leading role in driving the rapid growth of the electrification market in India, realizing a sustainable future for generations to come. In the next few slides, I would like to take you deeper into Hyundai's advanced technology and share how we are shaping the future of EVs. When Hyundai introduced the first version of TMED hybrid system in 2011 Sonata, it delivered more than 60% of improvement in fuel economy and over a 20% increase in power compared with the conventional ICE vehicles, making it one of the most competitive hybrid systems in the compact and mid-size segment. At the core of Hyundai technologies are high-performance batteries, high-efficiency PE systems, and advanced control algorithms that maximize vehicle performance. In fact, more than 250 patents in hybrid position Hyundai as a leader in electrification.
In 2025, we advanced even further with the launch of the next-generation TMED II system, featuring the state-of-the-art battery and motor technologies. This system, applied in large vehicle segments, delivers 4.3% greater fuel efficiency, along with significant performance enhancements compared to the current TMED I. Building on these technologies, we will continue to develop the hybrid technologies applicable to a wide range of vehicle segments, from compact to large size, providing customers with greater choices and exceptional driving experiences. Among all the electrification components, I would like to emphasize that the battery is the most significant factor in determining vehicle price, driving range, charging speed, and safety. When it comes to battery, the quality matters above all because safety and long-lasting battery performance preserve the customer value and peace of mind. Here on the left-hand side, we have the durability data from over 50,000 IONIQ 5 vehicles.
The research shows that the vehicle retains over 90% of battery performance even after 400,000 km. This is a clear proof that Hyundai EVs deliver enduring value and reliability through advanced battery management systems, as well as robust battery design with our battery manufacturers. This technology will not only create the benefits for our customers, but also reduce the warranty costs for Hyundai. Looking ahead, Hyundai is preparing for another leap forward. Starting 2027, our next-generation EVs will feature highly optimized batteries at 30% lower cost, with 15% higher energy density and 15% shorter charging times, dramatically strengthening our EV competitiveness. By leveraging our core strengths, we have expanded our capabilities to design and integrate multiple forms of factors, including pouch, prismatic, and cylindrical batteries, enabling optimized application across a wide range of vehicle models.
Alongside our high-performance NCM and affordable LFP batteries, we are also advancing the development of mid-nickel NCM chemistry that balances both cost, efficiency, performance, and range. Building on Hyundai Motor's technological competitiveness, we aim to provide comprehensive battery solutions meeting diverse market segments and customer expectations. Safety is the key quality that we can never compromise, especially for the EV world. Our goal is to prioritize technologies that protect our customers in any situation. Hyundai batteries are equipped with industry-leading battery management systems that perform real-time predictive diagnostics. The rapid detection of the anomaly enables proactive responses even before any unexpected condition. Also, starting next year, we'll take this further with a cloud-based BMS. With this advanced feature, we will be able to deliver even faster and more precisely predictive diagnostics for the highest safety.
In addition, our battery pack features multiple layers of exclusive safety technologies such as separation barriers, ultra-safety relays, refractory shields, and safety vents. Altogether, they prevent thermal runaway by mitigating temperature rise, releasing accumulative gas, and cutting off relays when necessary. Hyundai will remain strongly committed to advancing battery technology to meet the highest standard of safety. Now, let me shift gears. The technology for dynamic user experience for the software. We are set to revolutionize the most visible part of the in-vehicle software experience, the infotainment system. We plan to launch our new infotainment system within 18 months, starting from early 2027, applied to our A+ CUV segment. This new infotainment system is based on Android OS, and it's more than just a screen. First, upgrading from existing features and displays, it will feature a 12.9-inch center display, offering a more immersive and intuitive interface.
Secondly, the customers will be able to wirelessly update their in-vehicle navigation without the need for USB, significantly enhancing convenience. Finally, the vibrant app market open to third-party developers will enable a continuously expanding suite of digital products and experiences. With these innovations, we believe customers will enjoy a smarter and more seamless digital experience inside their vehicles in the near future. Hyundai Motor Company aims to build a collaborative ecosystem to foster India's talented workforce and advance electrification capabilities. This initiative is centered on three key pillars: industry academia collaboration with the leading universities, strategic partnership with the local industries, and the establishment of the vehicle testing and research facilities. First, we have established a center of excellence in collaboration with the IITs. The COE has launched nine research projects in the battery and EV fields, including the charging technology, and plans to continuously expand the high-quality research initiatives.
It will also facilitate technology exchange forums and global conferences, bringing together academic and industry experts from India, Korea, and worldwide. Through these activities, we aim to nurture local talent and build a sustainable cooperation model that will both benefit Hyundai and India. Second, we aim to enhance the cost efficiency and supply chain stability by forming strategic partnerships to co-produce LFP batteries in India. This approach will enable us to deliver reliable quality and prompt service to the Indian customers. By combining technological expertise with the trust and pride associated with the Made in India label, this initiative supports India's EV goals and strengthens the local manufacturer capabilities. Lastly, through Hyundai's R&D center in India, we will develop vehicles that cater to the local needs and conditions.
By strengthening our local R&D capabilities, we aim to establish a robust validation and evaluation system tailored to India's distinctive roads, climate, and driving patterns. Our journey of technology innovation began with hybrids, and Hyundai Motor Company is creating mobility solutions that are safer, smarter, and more efficient. Our vision will go beyond personal mobility, delivering customer-centered solutions for a sustainable future. Together with this, we are committed to contributing to India's sustainable growth and greener future. Thank you very much. Now, I'd like to hand over to Mr. Gopal Krishnan, Chief Manufacturing Officer in HMI.
Namaste, and good morning. Thank you, Mr. Kim. I will take you through our journey of manufacturing excellence. Over the years, we have strategically built a robust and agile manufacturing ecosystem. By deploying advanced technologies across our value chain and adhering to Hyundai Motor Company manufacturing practices, we consistently deliver superior quality products.
Our focus remains on sustaining excellence.
Through continuous innovation, digital transformation, and a shared commitment to operational excellence, this 536-acre Chennai facility, one of the world's best integrated factories, has two plants comprising eight shops for vehicle production and five shops for powertrain production. In 1998, we started our production in 18 months from groundbreaking of our first plant. The Chennai plant now has a capacity of 824,000 units. In 2021, we rolled out our 10 millionth car, fastest in the country. Till date, we have manufactured 13.1 million cars, almost 40 models, and exported to over 150 countries. Known for our speed and flexibility, we now roll out one car every 30 seconds. Catering to evolving market demands, we make multi-models and multi-variants in a single line with strong digital interface. Our capacity utilization is about 90%. Our global body-build line can produce four models simultaneously.
Our train shop produces both petrol and diesel engines in the same line. We make both ICE and electric vehicles in the same assembly line, offering over 60 powertrain combinations and more than 470 variants. We have built a similar manufacturing ecosystem in Pune across a 300-acre facility, implementing HMC manufacturing practices. The current capacity of the Pune plant is 170,000 units, and in the next phase, another 80,000 units will be added. The combined capacity of both Chennai and Pune plants will be close to 1.1 million, which is the highest among Hyundai's overseas plants. To be future-ready, we are preparing ourselves to become a software-defined factory by focusing on advanced flexible automation, human-friendly smart systems, and leveraging AI-powered solutions. We will also have a digital command center for effective monitoring of the entire plant operations.
Regarding quality, taking cues from the customer insights, we strive to create a quality-focused ecosystem. Prior to a product launch, our vehicles undergo rigorous India-specific testing, and we have an NABL-approved emission laboratory to ensure regulatory compliance. We have a digitally integrated HMC global quality systems for vehicle-level production inspection and powertrain quality. For process and product quality, we carry out 100% dynamic vehicle performance validation across various road conditions. We have created an integrated quality environment to deliver supreme quality products. In this global auto plant, we are continuously improving our competencies by deploying advanced digital solutions, especially in quality, maintenance, and supply chain domains. In body panel pressing, we use 3D scanners to check the dies, and in body welding shop, a robotic dimension scanner is being used to measure structure dimensions very accurately.
We have an eco-friendly cold test bed to check the engine performance and an engine dynamometer laboratory to evaluate engine durability. An AI-based vision system confirms the quality of the final car. Our new model development follows structured protocols, multi-gate evaluations, and coordination among all the stakeholders to ensure a smooth launch. Here also, we are leveraging advanced technologies to proactively identify potential issues through various simulation mechanisms, such as digital pre-assembly and offline programming. Virtual reality and augmented reality modules enhance our assembly operator skills. These advanced solutions are developed by our own engineers. All these solutions are helping us to reduce the new model launch time. To enhance the operational performance, we have connected the shop floor through a dedicated IIoT network, and we have developed over 200 dashboards for effective monitoring of the plant.
Currently, 86% of our critical missions are connected to this network, and our data analysts leverage the generated data to improve overall metrics through various analytics projects. Localization of parts and developing a resilient supply chain ecosystem has been our focus, in line with the government's Atmanirbhar Bharat initiative. Our endeavor is to bring global technology while leveraging Indian talent. In recent years, we have developed 50+ tier-1 vendors to localize 1,200+ parts. Our strategic focus remains on high-technology parts, where we have taken a pioneering role in localization. We are the first to localize the AGM battery, panoramic sunroof, and front radar assembly, setting a benchmark for the industry. Going forward, our focus will be on deepening localization till tier-3 level. We have an integrated supplier ecosystem for the Chennai plant, with 60% of our suppliers located around the factory.
This facilitates the just-in-time concept, which leads to operational and cost efficiencies and builds flexibility. We have a rigorous supplier onboarding process and structured evaluation methodology. 85% of our 197 tier 1 vendors are rated four-star and above in quality evaluation rankings, which is the highest among HMC 's overseas plants. Similarly, we also have a direct connection with tier 2 vendors through a mechanism called process quality certification. We are building a similar resilient supply chain ecosystem in Pune, with 45% of our vendors around the factory, 21 new vendors as greenfield plants. To leverage our strategic advantage, over 120 established suppliers are also supplying to the Pune plant. We are handholding our suppliers for implementing advanced technologies and HMC manufacturing practices. This ensures our partners are also resilient and competitive.
All these efforts effect us to earn some of the industry's top awards, like the Indian Manufacturer of the Year and the Smart Factory of the Year for consecutive years from Frost and Sullivan. We are continuously striving and collaborating with all our stakeholders to sustain this excellence towards becoming a software-defined factory in the future. Thank you so much. Now I invite our CFO, Mr. Wangdo Hur. O ver to Mr. Hur.
Thanks, sir. Good morning, everyone. Over the years, we have appeared to have a rigorous route through the inconsistent growth, financial resilience, and strategic foresight. Today, we stand at a pivotal moment, driven by a clear commitment to accelerate our trajectory and create enduring value. As we look ahead, our financial vision is as sharp as ever, guided by robust fundamentals and bold ambitions. The future paths shall be fueled by performance, innovation, and the power of momentum. Our financial journey over the last three decades is marked not just by timeline expansion but by displaying the growth in profitability. Over the years, we have sharpened our operational efficiency, optimized the cost structure, and pursued a margin-equitative strategy that has steadily strengthened our balance sheet. This slide speaks volumes about the consistency and strength of our financial engine.
Over the years, we have delivered multifold growth, with both revenue and profit showing a resilient upward trend. These numbers are reflective of our focused execution and financial fluidness. The compounding effect of consistent performance is a testament to unlock greater value in the coming years. Despite the challenging macroeconomic landscape and industry fluctuation, our financial performance has been a model of consistency and strength. This resilient trajectory reflects that we have turned the headwind into opportunities, and the numbers speak for themselves. We have strategically enhanced our product mix toward SUV, with a premium adjacent strategy, which has led to consistent ASP growth. On the margin front, we have always prioritized and followed a quality-over-growth strategy, optimized cost, and scaled intelligently. Our return ratio has remained stable and high, which reflects that we are not just growing; we are doing it efficiently.
Together, these metrics prove our financial delivery has not just weathered turbulence; it has thrived across business cycles. Financial strength has always been the foundation of our successful journey. We continue to ensure excellence in our creditworthiness by proudly maintaining the highest credit rating of AAA stable from CRISIL. It is a reflection of our strong fundamental and fluid finance and risk management framework. Now, let me share with you about our financial guidance for the next five years. Starting with investment, we are building a strong foundation of growth and capabilities across the board, which will not only boost the top line but keep us leaner in cost and ahead of the curve in product and technology. We anticipate undertaking an investment plan of nearly INR 45,000 crore for the next five years.
Notably, it is worth sharing that nearly 60% of this investment plan will be remarked toward the product and R&D, and the remaining will be spent toward capacity building and accreditation, which will enable us to capitalize on growth opportunities. Altogether, these numbers aim to make the company grow faster, smarter, and more agile in a competitive landscape. Guided by our CEOs' and MDs' vision, we are charting a new growth trajectory for the next phase, leveraged by our strength to scale new heights. With this taskmaster agenda, we are striving for a healthy increase in revenue, taking our timeline to over INR 1 lakh crore by financial year 2030, ready by higher volume and ASP. We are confident to maintain a healthy double-digit EBITDA margin between 11% and 14%, driven by operating leverage, premium adjacent, and cost control efforts.
Most importantly, coming to shareholder return, we remain committed to driving sustainable shareholder return through consistent value creation, balancing profitable growth with a fluid capital allocation plan. While our CapEx plans are ambitious and aggressive, we are confident of managing through internal accrual and cash reserve. At the same time, we are guiding our foot for dividend payout range of 20% - 40%, in line with industry benchmarks. Lastly, I would like to conclude by saying that at HMI , we are investing with conviction, delivering with precision, and rewarding with performance. Thank you, everyone. Over to Jose.
Thank you to all the presenters. We are almost at the end of our presentation. Before we wrap up, there is one more thing I'd like to announce. Ladies and gentlemen, I am pleased to announce for the first time, Genesis is coming to India. Genesis is new to many of you, so let me tell you the Genesis story. 10 years ago, Hyundai Motor Company made a bold decision to launch Genesis as an independent luxury brand. This was led by our Executive Chair. Many people doubted us. They said luxury takes decades to build. They said we couldn't compete with century-old European brands. Genesis represents a new beginning. Untethered from legacy thinking, in just eight years, we sold 1.3 million vehicles globally in record time. We are now a top 10 global premium brand with double-digit profit margins and presence in more than 20 global markets.
The luxury automotive space is incredibly competitive. In most cases, volume manufacturers struggle with luxury because they treat the brands the same way, not at Genesis. First of all, the vehicles are extraordinary. The lineup includes six models: sedans and SUVs, all recognized for innovation, quality, and elegance. Genesis is entering a new era with a disruptive growth path to elevated luxury, focused on three strategic pillars: profitable segments, expanding product portfolio towards segments with highest profitability; advanced technologies, developing hybrid technologies and a Genesis-dedicated platform; new growth markets, expanding into geographies with high growth and market share opportunity like India. Our product vision includes four vehicle concepts. The first is an ultra-luxury SUV, elevated luxury designed for spacious comfort and off-road experience, like the X Grand Equator concept, expanding the Genesis portfolio into adventure mobility. We will have emotional halos, the pinnacle of luxury and craftsmanship.
The X Grand Convertible concept is an interpretation of such a flagship, and our Magma Halo GT concept embodies Genesis' magma performance. Our one-on-one program is an ultra-bespoke offering that embodies each individual's unique identity and dream. This is a program developed in the Middle East, where craftsmanship meets individuality. Finally, high performance, the Genesis Magma High Performance XEV, with an optimized balance between comfort and performance, delivering the excitement of electrified high performance. Underpinning all of this is a next-generation platform that supports BEV, EREV, HEV flexibility. Delivers Genesis' DNA of athletic elegance, solid and agile driving characteristics. Features full stack SDV transition, Coda architecture, with full lineup featuring new infotainment and SDV intelligence. As you can see, we have very high ambitions with Genesis, and we are launching Genesis in India in 2027. We will introduce a diverse set of products across powertrains.
We are starting small in 2027 but plan to grow volume significantly by 2032. India's luxury market is ready for Genesis. The sophisticated, discerning customers here appreciate craftsmanship, innovation, and a brand that doesn't just follow the crowd. Genesis is perfect for this market, and this market is ready for Genesis. Moving forward, HMIL is well-positioned to grow our leading position. As our Executive Chair often says, adapting is part of our DNA. That's not just a slogan, it's how we've operated for decades. Look at our track record, Hyundai Motor Group global sales ranking from number seven in 2018 to number three in 2022. Difficult times don't weaken us. They make us stronger because while others retreat, we invest. While others cut, we build. While others exit markets, we double down. This is about more than business. It is about progress for humanity and progress for India.
A Hyundai for every Indian, that's been our vision, and it reflects a spirit of collaboration, shared growth, and pioneering future technologies right here in India. Our investments reflect that commitment: INR 44,000 crore-INR 45,000 crores by 2030. India-centric products, export hub and supply chain localization, EV infrastructure and ecosystem, Hyundai Capital market entry, dealer network development, new business, and partnerships. These comprehensive investments aligned with Make in India position HMI as both a domestic leader and a global export hub. The story is very clear: 15% + domestic market share with 1.1 million capacity by 2030, up to 30% export contribution by 2030, 26 launches by 2030, including seven new nameplates, 82% SUV and MPV sales with over 50% eco-friendly powertrains, launching an all-new MPV and off-road SUV. Genesis launch in India by 2027, 1.5x revenue growth by 2030, and dividend payout guidance of 20% - 40%.
Ladies and gentlemen, India isn't just important to Hyundai's global strategy. India is Hyundai's global strategy. Amazing innovation is happening here. Manufacturing excellence is being built here. Customer relationships are being forged here. Talent is being developed here. This is the future of our company. To our stakeholders, customers, dealers, suppliers, employees, and communities, thank you for 30 years of partnership. The best is yet to come. To our shareholders, thank you for your trust and confidence in our vision. We remain deeply committed to creating long-term value for you through disciplined execution, sustained profitability, and our healthy dividend payout guidance. It is a great time to be at Hyundai Motor India. Thank you. Namaste.
Ladies and gentlemen, that concludes all our presentations from the management. We sincerely thank you for your attention throughout the sessions. We will now break for IT. Please take this time to network and reflect on the insights shared. We kindly request you to please join us at 11:45 A.M., as we will begin our Q&A session after the break. Thank you and see you shortly.
Everyone, thanks for joining the meeting today. I'm excited to hear about the new project updates.
Thanks for asking! I'm excited to hear more about the new project.
I'm glad we could all join today. I'm glad we have time to discuss the upcoming project.
Absolutely, I'm glad we have time to discuss the new project.
Should we start by discussing the project's main goals?
Yes, the main goals are to improve the productivity of our team and to ensure everyone feels comfortable working remotely.
That's a good point. We should also consider the impact on our work-life balance.
Absolutely. We need to consider the impact on our mental health.
Absolutely. We should also consider the impact on our emotional well-being.
Yes, we should consider the impact on our social media usage.
Social media is a big factor.
Yes, we should consider the social media platforms we use to communicate.
We should also consider the platforms we use for our work.
Yes, we should also consider the platforms we use for our social media.
Yes, we should also consider the platforms we use for our social media channels.
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Welcome back. We will begin the Q&A session now. May I request the management to please join us on the stage? First of all, we really appreciate your interest. We received a lot of questions from your side. What we'll be doing is that I'll be moderating this Q&A session. In fact, what we'll do is try to take some of the common questions from your side in the first part. We will also open the floor after that. With that note, let me begin with the first question to our CEO. Sir, do you see India as a potential global hub for EVs, which can compete with Chinese EVs globally? Also, how do you see the Indian EV adoption curve evolving?
India, not only could be, but is going to be definitely one of the most, if not the most, competitive EV hub in the world. EV is not a matter of political position, etc. EV is happening because basically the performance of the vehicles is superior in terms of dynamics, in terms of acceleration. As the technology evolves, for sure it's going to be established as the leading technology.
In our case, we believe that if we set up a very strong local supply chain for EV with the best battery technology, as Changhuan has mentioned earlier, with the best safety, the best performance, the best quality, and then considering in our case that we don't see EV as a standalone, but we see it in combination with other technologies like eREV, like hybrid, or even plug-in hybrid, if we are able to develop as well the infrastructure to make it convenient for the consumers and the policy allows for India to provide enough power so that people can recharge the vehicles without a problem, I don't think there is any doubt that India will be a top hub of EV globally. We are planning it like this, and I'm sure it's going to happen.
Thank you so much. Now we'll take our second question. Can you enumerate how the exports would shape up for HMI in the near future? Exports?
Thank you for the question. I will say that HMI has been our largest exporter from 1998. HMIL has the full access to Hyundai Motor Company global export ecosystem. Currently, we are exporting to more than 80 countries in the Middle East, Africa, South Asia, and Central and Latin America. HMC has positioned HMI as a manufacturing hub for emerging markets. We have a very good product portfolio like the i10, i20, Verna, and Exter. These models are very suitable for emerging markets. If we see the future, we are seeing the domestic and export volume. It will increase very significantly, thanks to our Pune plant with the expansion of our capacity. In today's Jose presentation, we are launching a new seven nameplate with some EV and SUV. These models are also exporting to emerging markets. HMIL has a very good balanced mix of the domestic and export.
These contribute to their profitability, not only profitability, but also some fluctuation responding to fluctuation of the geopolitical issue. We are seeing very positive in the export market. Thank you. I hope I answered your question.
Thank you so much, sir. Now the next question is on the recent GST reforms on the government side. The question is, is there any change in strategy post-GST reforms? How do you see the demand shaping up in the remaining part of financial year 2026 and 2027 post-GST reforms? What segments would be the key beneficiaries of this reform in both rural and urban segments? May I request our CEO to take this question, please?
Thank you. As we all know, this has been remarkable reforms by the Honorable Prime Minister, and we can clearly see the demand coming back very strongly. All the segments have been benefited, like we have gone on record to say, on expected lines, it is the Venue segment and the extra segment, which is the subcompact SUV segment, which is seeing the maximum growth. That is very obvious as well because it is in that segment that accessibility and aspiration are meeting. Hyundai, as you know, is very well poised to take advantage. There is a huge uptake in the bookings growth. We are expecting that this balanced part of this year should come back to that 4.5% - 5% CAGR, which India has been witnessing for the last five years.
H1 was an exception when we were on a negative trajectory, but I think time has come back to strike. Things are looking very good. Of course, this is the peak festival season as well. So far, so good. As for Hyundai's concern, we believe in quality of sales. Today, you saw that we have a very aggressive launch plan. I'm sure with the GST as a big tool with us, and the prices have lowered as much as 8.5% - 10%. I think this really makes our new model introduction even more meaningful, and the volume target can definitely go up. Thank you.
Thank you, sir. Now the next question, which comes very often for us from the investor side. How will Hyundai product launches compete against Kia? How does Parent think of this cannibalization? I request our CEO.
Let me address this. First and foremost, Kia is a different brand than Hyundai brand or Genesis brand. Kia brings to the group economies of scale and the opportunity to share development costs and in many cases as well, investment costs with another great company, right? We don't look at Kia as a competitor that is cannibalizing sales, etc. In fact, if there was somebody else doing something similar, we would have to have kind of a different or similar behavior. The positioning in the different markets is different. The very clear fact is whether you analyze this from an objective point of view that our group has become the third global group in the world with this strategy. Now we are number two in terms of profits overtaking Volkswagen. I would argue that the strategy is working really well.
We will try to maintain that type of approach and then gain synergies and try to make the most out of all the companies within the group. I think the combination of Hyundai, Kia, and the luxury brand Genesis is really the trifecta of the success of our group.
Thank you, sir. The next question is on supply chain localization. What is the target localization from the current levels and potential items which can be localized in the near future? How is HMIL planning to enhance localization levels from the current 82%? Also, if you can share the timeline for localization of EV sales, power electronics, and drive trains.
Yeah, thank you so much. We are fully aligned with the government of India's initiative, Atmanirbhar Bharat. We've got a dedicated team, and some of the parts we are 100% sourcing, for example, you know, alternators, alloy wheels. We are focusing on high technology parts. Some of the high technology parts like AGM battery, panoramic sunroof, we have localized. Going forward, we'll be deepening our localization till tier III. We'll be collaboratively working with all of our stakeholders, HMIL, R&D, and the vendor partners. Regarding the EV localization, we have recently localized our Creta battery system assembly. We have a local partner for the cell localization. Going forward, we'll be localizing the power electronics and other EV parts. Our strong focus is on localizing the EV ecosystem. I expect close to, currently it is at 82%. Maybe we may expect around 90% in the year 2030.
Thank you so much. The next question, which is quite interesting. What is the relative technology advantage or disadvantage of hybrid technology of Hyundai versus other leading players like Toyota?
Thank you for pointing out how competitive our hybrid technology is. As I mentioned, we are one of the very early players in hybrid technology development. For example, we have 250 patents. If you look at the global OEM side, there are only two OEMs that have a very much competitive hybrid system, one from Toyota, one from Hyundai. The reason that we started with our TMED systems in the 2010 timeframe, Toyota systems was not giving enough the fuel economy benefit as well as the power performance improvement. We had to come up with some very unique systems to really compete against the Toyotas. As I mentioned, back in the old days, as we tried to give more value to our customers, our systems were relatively more expensive in terms of the material cost as we put more batteries, for example.
Again, as we have to be more powerful, we had to come up with the newer technology like lithium-ion battery technology for the first time in the world to be applied in the vehicle application. Those kinds of the historical approach and our philosophy was different from the Toyota side. Now, 15 years later, we kind of have reached a scale and we have accumulated a lot of component level of the technology. We expand from the existing one to come up with a premium size, also in the low cost and small segment vehicles hybrid system. We have now all different 48-volt mild hybrid, typical commission hybrid, and plug-in hybrid, and exchange range hybrid. We are going to equip all the most wide range of hybrid systems with the most value and most performance and most quality to our customers.
I believe that we can be very much advantageous kind of a history and experience to compete against our competitors.
Thank you, Mr. Kim. The next question for the CEO. Would Genesis in India be part of the listed entity in India?
Genesis is part of Hyundai Motor Company. As such, I think it's part of HMI already. The simple answer is yes, it will be part of it, but not as a separate entity.
Thank you. Next question is on the CAFE 3 emission norms. Could you share some light on what percentage of EV plus strong hybrid mix is required in order to meet the CAFE 3 norms if the current proposals are enacted in April 2027? Required EV plus strong hybrid mix to meet these norms with the planned launches aid in meeting the norms for Hyundai Motor India.
I think it's too hypothetical. As we know, CAFE 3 is still in the draft stage and HMIL is already in touch with the BE and will let the norms be finalized. That said, today Jose presented a very aggressive plan. You know that 5 EVs, 8 strong hybrids, 6 CNGs. As the last three decades we have done, I think HMIL always benefits from the strong Hyundai Motor Company parentage. We are very well geared up to take the path to sustainability and in fact lead it, not only follow it. We are very confident that whatever the norms are finalized, we will be able to meet it. Thank you.
Thank you, sir. The next question is, given Hyundai's export plans and expected domestic market growth, don't you think you may need more capacity in case of market growth or product launches surprise positively? What is the scope for further expansion at the Pune plant?
I'll take this one. We constantly assess the demand and the supply opportunities. I would say we're one of the few global OEMs who are expanding. I recently presented in New York our plan for 2030. Within that plan, I presented a 1.2 million incremental capacity through to 2030. Because of the vertical integration of the group and the job that group companies do, like Hyundai, Engineering, Globis, Mobis, etc., we have a unique speed to increase capacity as we've shown also in India, right? We will assess the demand situation and then if needed, we will increase. I think we can go in two directions. One is kind of a stretch or expansion of existing plants. If we think we need something else, we will definitely evaluate and we'll get it done.
I don't think it's going to be for lack of capacity that we won't have opportunities to grow more in the Indian market.
Thank you so much, sir. We will now take some of the questions from the audience as well. Anyone who wishes to ask a question, please raise your hand. We will help you with the mic.
Hi team, thanks for the opportunity. Thanks for putting out a very detailed presentation. It was good to see. I have two questions. First is on HMC side, could you comment a little bit about the profitability across different powertrains, hybrids, EV? Linked to that, when you localize them in India, will there be a benefit of parent look scale that we could see on the powertrain economics in India as well? That'll be the first question.
Let me take that one. I'm not going to give you a breakdown of profit by powertrain or by model, but as you can imagine, we track it. At the moment, the ICE models are the most profitable. We're quite profitable as well in hybrids, which as you have seen, we have the intention to significantly increase the number of models. Eight models by 2030 will have hybrids. I can tell you that in markets where we already compete with hybrids, the level of profitability is equal or superior. Our hybrid features as developed by our R&D colleagues, Jang Hwan Kim , are very, very good. He already presented that he's planning to reduce the cost, increase the performance. Because of the growth of hybrid, I think we're going to see an interesting profit evolution.
Today, everybody knows, it's not a secret, battery EVs are less profitable and in some cases are loss-making for some competitors. We've been working very hard with our colleagues from R&D to ensure that our fundamentals are such that we are profitable with battery EV. How? By commonizing a platform for battery EV, by having common technologies in terms of the sales and in terms of the sourcing and in terms of the utilization and expansion across the board in models. Whilst today battery EV profitability is lower, we are confident that as we increase the production, as we have mentioned, thinking that about 55% of electrified vehicles, battery EV, hybrid, ERV will be the mix for India by 2030. As we increase that volume, we are confident, as we have done with hybrid, that step by step we'll be able to deliver similar levels of profitability.
Within that, as you rightfully point out, localization is important. I would argue we are the most localized company in India because to be localized not only means that you sell what you produce, but you also export. We get in India more economies of scale than the companies who do not export. I can tell you, as maybe Unsoo Kim mentioned, that the countries who are receiving products from India, all they want is more production from India because it's very good quality and it's very, very competitive. To your point, we are not only thinking in or localizing the manufacturing, we are really doing the true tier M localization, tier 2, tier 3, tier 4, etc., including the group companies in the country.
I think this is going to give us a good, strong fundamentals to sustain the double-digit profits and the high returns that we have announced to our shareholders.
Thanks for that. The second question will be on the margin side. You know, Hyundai India is one of the, they have the highest margins, highest return on capital employed within the sector. In fact, when you look at the margin range of 11 %- 14% that the company has given, the business is already sitting towards the higher end of the range. Last quarter was 13.3% margin. When you look at the next five years, are there some headwinds that you see, which is why the range, you know, is it the powertrain mix changing a headwind that you see? How to think about that because ideally you will get more scale, you will have more premiumization as tailwinds to margin, and potentially Genesis could also be a margin tailwind.
There is not just one headwind or two. We see many headwinds, many headwinds all the time and growing. The good thing is that we see them, and the good thing is that we're taking the fundamental steps to sustain it. If I was you, I would be wondering after all the deployment of strategies that we have presented here, why our market share target is so low, right? It's to sustain profitability. I think we could go higher market share, but that's not the point. The point is to grow profitably, having good quality of sales, as Tarun has mentioned. Tarun and Unsoo, they come every month to Korea where we have these discussions. We don't want to buy the market. We want to gain and earn the market. Good quality of sales means good price positioning, a relatively low level of investment, good brand management.
Today I just made an announcement globally about the positioning of our brand in the inter-brand positioning. We've been the fastest growing OEM in terms of brand. Our brand equity has grown significantly, about INR 24 billion. How do you do that? By having good quality of sales, discipline, and growing, good dealers, good design, good management in the sales, not pushing the sales, pull versus push. I see a lot of headwinds, but definitely the power of the group, the vertical integration, and the fundamentals in the business, starting by really top quality design products and top quality technology, I think gives us a competitive advantage, which has allowed us to be in a very good position in the market with high profit, not buying it.
Hi, this is Nitin here from Axis Mutual Fund. My question to you is, how do you think about just getting the previous participant question on profitability, very strong profitability you have without after sales in the, or the, you know, the after the parts are not there in this business. It's with Mobius. How do you think about that? Because the way you got, let's say, a luxury brand in HMIL right now, do you think that going forward you have plans to integrate completely even after parts into this business? How the group is thinking about that?
I have multiple meetings with investors across the globe, right? In different countries, I get different questions. They ask us about the structure of the chairball, the structure of the group, the integration of Mobius, Globis, blah, blah, all these. The fact is with the current structure of the group, we have been one of the fastest growing, not only in volume, but also in share and in profits. Our job is to continue to do our very best with the current tools that we have. While some people will think, oh, if I get the profits of after sales, it's going to be way better for the company. Yeah, but don't only think about the profits, think about the cost, right? In our case, Mobius is delivering also a great logistics and service to ourselves and our customers. The cost is not included in the company, right?
When you compare ourselves with other OEMs who have after sales integrated, our profits are higher. There must be an element of the structure of the group and the operations which give us the competitive edge, right? I can tell you that you never know what is going to happen in the future. I always say that we go step by step. The current step that we have decided and we have announced is very important already, which has been the announcement of the introduction of our sales captive finance company, Hyundai Capital. We have here Marcelo as a Global Head of Operations of the company. This is a number one step. Why is this very important? Because it's bringing higher loyalty to our customers. Maybe one day we will introduce or we'll integrate after sales. It's not right now in the roadmap.
Ask yourself why our profits are higher than others that already have it integrated. Don't only think about the potential profit, but think about the cost, right? It's a similar answer I could give you with those who think about the agency model versus the dealer model. A lot of people think, oh, if we go direct to consumer or agency model, we're going to make more money. Indeed, if you sell the same amount of cars, and if you provide a good service to the customers. If you don't provide service to the customer and you sell less cars, you make less money. A lot of companies in Europe, particularly, had to go back to the dealer model because the agency model or the direct to consumer didn't work. This is similar.
Rest assured that we will constantly monitor opportunities to improve and looking at both the revenue and the cost to enhance the operations. Right now, strategically, the most important move is to get the sales finance company integrated and the luxury brand Genesis. Why is it so important? The volume is not going to be huge. It is so important because it brings a higher image to the brand. Then the revenue management by far is more important than the cost. In cost, there is only so much you can do. In revenue, there is so much more room, right? I think those elements and others that I would summarize at the end, they are good enough for this mid-term plan, and we will evaluate further opportunities.
Thank you. My second question is to Tarun. Sir, you spoke about this GST demand coming in the compact EVs a lot. That's what you see versus, let's say, your competition's daily job is to give how much bookings they are getting at the entry level. How do we figure out that? I'm setting the context here because it looked like not an income increase in a GST. It's more of a tax cut. Consumer behavior in the last five years has been more of upgrading and buying good cars, bigger SUVs, and compact EVs. We understand this is a festive where everyone sells at this point in time. How you are looking at it, let's say post-January, where you see sustainable consumer behavior because five years consumer behavior you think will change significantly. Let me get lower cars or entry levels more. How we should think about it.
Thank you.
Yeah, so look, a very interesting question. Very clearly when we see, yes, India's car penetration is still 34 per thousand. There is definitely some kind of movement which is going to happen at the base level. Please understand one very strong dynamics. Customer earlier also had INR 900,000 pre-GST. Today also he had INR 900,000. There is nothing changing there. Today in INR 900,000, he can get a better car. He can get a higher car. That is where Hyundai comes in. What we are seeing, of course, is two early days is that higher trims, customers who were earlier wanting a lower trim are now going for a higher trim. Customers who were probably looking at a premium hatch are now moving to the SUV compact. I think this is a trend which is not a today's trend.
This is last five years, very clearly, the key buying factor has changed from the cost to the value and from functionality to aspiration. GST is not going to change that. That is somewhere which is globally happening, and it is happening very clearly in India. Even if you see September numbers, hatches have actually gone down. If you see April to August contribution, September hatches have actually still gone down. The overall behavior I think will continue. What GST will do definitely is it will make cars more accessible, which means, like I said, some kind of a degrowth which was happening as an aberration. Hopefully, things will start moving up. Companies like Hyundai, who are moving very strongly towards SUVs, I think will be one of the better placed to really now because accessibility as well as aspiration are very clearly matching. I hope I've answered your question.
Yeah, thank you.
We'll take one last question, considering the positivity of time.
Yeah, good evening, sir. This is Kapil from Nomura. Thanks for the opportunity. My question has two parts. Firstly, just a clarification. We have talked about a 5% CAGR for the industry and 7% for Hyundai. Is this revenue or volumes? Just wanted to understand. How do you think of the dynamics between volumes and ASPs given you're launching multiple variants or hybrids, CNG, everything? Secondly, to José, sir, in terms of exports from India, how do you decide because you have multiple manufacturing locations? How do you decide what will be exported and how much of that model will be exported from India and how much from other locations? Thank you.
First one, maybe a summary. The numbers that we have presented, they are volume. Obviously, from a finance point of view, we look at the net revenue. We are planning to increase our net revenue beyond the 7%. That's our plan. That's how we do. You saw that, for example, in New York on September 18th, I presented the global guidance. Whilst we are hit by the tariffs with the U.S., we increase our net revenue. We are, I think, doing the right thing. It's not about how many cars you sell only, it's also how you manage your revenue. I hope I clarify. The expectation is the revenue to go up above the 7%. Now, to your second question, how do we allocate? The maximization of profit of the company is the criteria, right? To do that, you need to optimize constantly the supply and the demand.
As mentioned, I get a lot of demand from different markets. The market situation is constantly changing. Now we may see that because of tariffs in the U.S., there are changes in the USMCA. Countries like Mexico are changing their conditions in terms of free trade agreements. Some of the customer markets may change their demand. In all situations, we are looking at what do we. Capacity,
Where do we have demand, how can we optimize, right? A very clear strategy for us in India, as mentioned in my presentation, is that we want to make more money exporting than in the domestic market. In the domestic, we want to increase as well. That's the criteria. We don't want to pump out volume for the sake of saying, "Hey, we are achieving so much volume and we are very proud." No, this is not us. We're doing a pull strategy and we're doing a healthy, steady, profitable growth, trying to export to profitable markets.
Thank you so much. We end the Q&A session now. May I request the CEO to stay back on the stage, and I request the other management team to take their seats, please.
Thank you. No need for everybody to leave. Let me just simply finalize by telling you, you know, I've been really having a lot of investor events in different markets, right? If I was you and if I was evaluating the opportunity in India, I would be extremely satisfied and extremely happy with what we are trying to put here and develop. We are aiming at achieving a 15% domestic market share with 1.1 million capacity, with up to 30% export contribution by 2030. There will be 26 launches by 2030, including seven new nameplates. Very solid. 82% SUV and MPV sales with over 50% eco-friendly powertrains. We are going to launch an all-new MPV where we don't compete today and also an off-road SUV where we don't compete today either. Genesis launch by 2027. Genesis is a double-digit profit margin despite the global competition.
1.5x revenue growth by 2030 and a dividend payout guidance between 20% and 40%. I think, ladies and gentlemen, India isn't just important to Hyundai's global strategy. As mentioned earlier, India is Hyundai's global strategy. I hope you get the message loud and clear and the commitment by the team. Thank you very much.
Thank you so much, sir, to all the management teams. Thank you to all the participants for your active participation. We conclude this event now. On behalf of Hyundai Motor India Limited, we wish you and your family a very happy and prosperous Diwali. All the best to all of you. Now you can please join us for lunch. Thank you.