Hyundai is all set to launch the second-generation Venue SUV in India in 2025. The new Venue will be positioned above the recently launched Exter but below the Creta in the Korean carmaker’s line-up.
Hyundai recently announced the acquisition of General Motors’ Talegaon plant. The 2nd-gen Venue will be rolling out from this plant. The production target for the Venue is set at 1,50,000 units per annum.
Like the first-gen Venue, the 2nd-gen car is expected to be a popular model. Hyundai currently sells Venue across 13 variants. Just a while back, the compact SUV recorded a sales milestone of 4,50,000 unit sales in India.
Key competition to the Venue is from Maruti Suzuki Brezza, Tata Nexon, Kia Sonet, Mahindra XUV300 and Maruti Suzuki Fronx. Amongst these, the Nexon, Sonet and the XUV300 too are due for a facelift. With additional features, the compact SUV segment is going to be a hotly contested segment in India soon.
Hyundai Motor India Limited is celebrating its 27th year of operations in India. The Korean carmaker has been consistently ranked second after Maruti Suzuki in terms of total cars sold. Now, the company has revealed an ambitious target of manufacturing 1 million cars every year in India. To this end, Hyundai has now signed an Asset Purchase Agreement (APA) for the acquisition and assignment of select assets of General Motors India’s Talegaon Plant.
Hyundai reported sales of 552,511 units last year. This means a market share of 14.5 percent. In the current year, the company has sold 346,711 units already. Now, Hyundai wants to increase its production volume.
Hyundai has already enhanced its annual capacity to 820,000 units from the earlier 750,000. With the General Motors’ Talegaon plant, it will add another 130,000 per year. Post this, Hyundai wants to increase this to 1 million units a year.
Also Read – Hyundai aims to produce 1 million cars a year in India.