Hyundai India projects extra Rs 13,000-cr investment by 2022

Hyundai also aims to bring a new car model every year

Korean automobile major Hyundai, second biggest in the domestic car market, aims to invest $2 billion (about Rs 13,000 crore) in this country over the next five years to develop and upgrade products.

It aims to expand its market share from the current 17 per cent and double domestic sales to a million vehicles annually in the next five years.

It has 11 products at present, which it says needs regular refreshing. "The product life cycle is shortening. Every four years, you need to upgrade design and technology of a model, while refreshing it with minor changes every year. Every