Hyundai India aims at 50% exports by 2008

Hyundai Motors India (HMI) is planning to export 50% of production by 2008 in line with plans to make the country an export hub.

"We are exporting 33% of our production now, which we will increase to 50% by 2008," Arvind Saxena, marketing and sales vice president of HMI, said on the sidelines of a SIAM conference.

Saxena said exports would be increased by enhancing production capacity at its plant in Chennai.

HMI currently has a capacity of 3 lakh units per annum, and is in the process of doubling capacity to 6 lakh units per year. Saxena said the company is targeting an export figure of one lakh plus units for the current financial year. Last year, the company achieved exports of around 92,000 units.