Hyundai’s H S Lheem set to meet Indian Prime Minister

Hyundai’s H S Lheem set to meet Indian Prime Minister

Hyundai Motor India Limited (HMIL) head H S Lheem is likely to meet the Indian Prime Minister Dr. Manmohan Singh to discuss the issues raised by the company’s Indian operations.

Hyundai is the South Korea’s single largest investor in the country and also one of the major players in the Indian auto market.

A company spokesperson spoke about the agenda of the meeting: “Besides raising the topical issue of any possible change in the small car definition in the forthcoming budget, we will also be asking for specialized port facility for the automobile industry and special auto clusters to boost exports from India. We plan to export 300,000 vehicles from India in next two years and will be demanding more incentives, in-line with the government’s aim to make India hub for small car manufacturing.”

The company is afraid that constant changes in the government policies related to auto exports could hamper their future plans in the country.

Hyundai also has plans to invest an additional $1.4 billion in India over the next two years to double its annual production capacity to 600,000 units by late 2008.