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HD Hyundai Site Solution to Invest 87.7 Billion Won in New Indian Production Facility
Producer Manufacturing · Trucks/Construction/Farm Machinery · yonhap_finance · 2026-08-31
HD Hyundai Site Solution is set to build a forklift manufacturing plant and R&D center in India, aiming to expand its global footprint by 2030.
What Happened
Investment in India: HD Hyundai Site Solution has announced an investment of approximately 87.7 billion won into its Indian subsidiary to establish a new forklift production facility and R&D center. The funding will be executed through a third-party paid-in capital increase, with the parent company acquiring the newly issued shares.
Global Expansion Strategy: The company aims to build an annual production capacity of up to 5,000 industrial vehicles by 2030. By establishing this local hub, HD Hyundai plans to capture the growing Indian domestic market while simultaneously expanding its export reach to neighboring emerging economies.
R&D and Technology: A key component of the project is the expansion of research and development capabilities by leveraging local talent in India. The company intends to elevate its technical prowess to a top-tier global standard to better compete in the international industrial vehicle sector.
Market Outlook: Driven by government-led infrastructure and logistics policies, the Indian industrial vehicle market is projected to grow at an annual rate of 5-6%. With the market expected to exceed $10 billion by 2033, this strategic investment positions the company to capitalize on long-term regional growth.