IPO-bound Hyundai India and its rivals in world's third-biggest car market

Hyundai Motor India sought regulatory approval on Saturday to list on the Mumbai stock market in what could be the biggest IPO in the South Asian nation.

India is the world's third-largest car market after China and the United States, and one where Hyundai fiercely competes with the likes of Maruti Suzuki and Tata Motors.

Here are facts about operations of Hyundai and its main rivals in India:

Hyundai Motor

Hyundai is India's second-biggest car maker by sales with a 15 per cent market share of the 4.2 million passenger vehicles sold in the country in fiscal year 2024. The car maker was one of the first foreign brands to set up shop in India back in 1996 and manufactures its popular 'Creta' sport utility vehicle (SUV) and other models at a plant near Chennai in southern India.

Hyundai's Tamil Nadu plant has an annual production capacity of over 820,000 units, and with the purchase of its second plant in Western India this will increase to over 1 million units in the next few years.

It currently sells just one imported electric vehicle (EV) model, the IONIQ 5, and will launch its first locally produced EV next year.

Maruti Suzuki

With a market share of 42 per cent, Maruti Suzuki is Hyundai's biggest rival in India and went public in 2003. Majority owned by Japan's Suzuki Motor, the company has three plants in India, with a combined capacity of 2.35 million units.

Its smaller cars such as the Wagon R and Swift are top-selling models in India, and it is also known for its Brezza SUV. Maruti has plans to launch hybrid cars and EVs in India.

Tata Motors

Tata Motors is India's third-biggest car maker by sales and made its market debut in 1955. It produces its cars in the auto hub of Pune in western Maharashtra state and at Sanand in Gujarat state, giving it a combined total production capacity of over 1 million units a year.

Tata's Nexon and Punch models are the country's most-sold SUVs and have contributed to its overall market share rising to 14 per cent, just behind Hyundai.

It dominates sales of EVs in India, with a market share of over 70 per cent.

Mahindra & Mahindra

Mahindra & Mahindra is India's fourth-biggest car maker by sales and is part of Indian tech-to-tractors conglomerate Mahindra Group. It listed its shares in Mumbai in 1956.

Its large and expensive SUVs, such as the Scorpio and XUV700, make it India's biggest SUV manufacturer by revenue. Mahindra has an annual capacity of around 588,000 units and manufactures its vehicles in Pune.

The company currently sells one EV model and is expected to launch a slate of electric SUVs in early 2025.