[Hyundai Inaugurates Pune Plant, Targets 320,000 Vehicles Annually by 2030]

Published: Oct 15, 2026 15:26 (GMT+8)

Save

Hyundai Motor India inaugurated its new manufacturing facility at Talegaon, Pune, on October 14, adding to India's automotive manufacturing capacity and creating potential longer-term demand for automotive-grade flat steel. The plant has an initial annual production capacity of 170,000 vehicles, which Hyundai plans to increase to 320,000 units by 2030. The company plans to invest approximately 1.16 billion USD (110 billion INR) in phases at the facility, while 55 supplier partners have already invested nearly 484 million USD (46 billion INR) in Maharashtra. The plant will manufacture the new Hyundai Venue for domestic and international markets, with exports planned to more than 35 countries. The planned production ramp-up and expansion of the surrounding component-supplier ecosystem could support incremental demand for cold-rolled and coated steel products.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

15 mins ago

[ArcelorMittal Mexico Targets 5.3 Million Tonnes of Annual Output by 2029 as Mining Upgrades Advance]

ArcelorMittal Mexico is targeting annual steel production of 5.3 million tonnes by 2029, compared with current output of approximately 3.6–3.7 million tonnes, according to CEO Víctor Cairo. The company is focusing on operational improvements, including modernisation of continuous casting facilities and the removal of production bottlenecks, to support crude steelmaking capacity of 3.8 million tonnes annually and hot-rolled coil production of 2.5 million tonnes. ArcelorMittal is also advancing a 180 million USD (approximately 17.1 billion INR) iron ore concentrator project at Las Truchas, scheduled to begin operations around mid-2027, supporting plans to increase long steel production to 1.5 million tonnes annually. The 5.3-million-tonne objective was originally outlined in 2017, making the latest development an updated production timeline and operational improvement programme rather than an entirely new capacity announcement.

15 mins ago

16 mins ago

[SMM Steel] Vietnam Import HRC Prices Decline as Buyers Seek Lower Levels

[Vietnam] Vietnam's import HRC market weakened, with the ASEAN HRC assessment falling by USD 5/tonne to USD 535/tonne CFR Vietnam. Tradable levels for Indonesian-origin SAE1006 HRC were reported at USD 532–534/tonne CFR Vietnam for January–February shipment, while mainstream offers for January shipment stood at USD 535–540/tonne. Some Vietnamese buyers targeted lower levels of USD 530–533/tonne CFR. Trading activity remained subdued, with a gap persisting between buyers' price expectations and prevailing offers.

16 mins ago

18 mins ago

[India Emerges as Potential Market for Australian Green Iron as China Demand Declines]

India and Southeast Asia could emerge as important markets for Australian green iron as declining Chinese steel demand forces Australia to diversify its iron ore exports, according to a report released by the Institute for Energy Economics and Financial Analysis (IEEFA) on October 15. The report cited Australian government projections that India's iron ore imports could reach 50 million tonnes by 2031, while Jindal Steel has indicated plans to import direct reduced iron (DRI) and hot briquetted iron (HBI) amid limited availability of metallics, including scrap. With around 80–85% of Australia's iron ore currently shipped to China, IEEFA highlighted opportunities for Australian producers to develop higher-value iron products for growing Asian steel markets. However, commercial green iron shipments to India remain a potential opportunity rather than confirmed trade.

18 mins ago