Hyundai Motor India Ltd. (HMIL), the Indian subsidiary of Hyundai Motor Company, has listed on the Indian stock market in a landmark Initial Public Offering (IPO) — the largest in India’s history. The event demonstrates Hyundai Motor’s commitment to enhancing transparency and expanding investment in India.
The IPO was marked with a formal ceremony at the National Stock Exchange (NSE) in Mumbai, attended by Hyundai Motor Group Executive Chair Euisun Chung, Hyundai Motor Company President and CEO Jaehoon Chang and other Hyundai Motor Company executives.
“We knew that India was the future. That is why we continuously increased investments, expanded our R&D capabilities and created more than 250,000 jobs,” said Chung, also adding, “We initiated various CSR activities and adopted ESG standards when few companies did.”
“As we move forward, HMIL will continue to embrace the highest standards in governance,” he stated. “Also, our commitment to localization will continue, based on the spirit of collaboration and shared growth. Our commitment to being a pioneer in future technologies will continue as well – right here in India,” Chung added to emphasize HMIL’s ongoing commitment to India.
The company aims to win the hearts of 1.4 billion Indians through enhanced transparency and social contribution activities. Hyundai Motor plans to actively invest in new products, future advanced technologies, and R&D capabilities after the IPO.
The company will also localize the electric vehicle (EV) supply network for battery systems, battery cells and drive systems, and will invest in building EV infrastructure across India. This is part of Hyundai Motor’s continued efforts to become pioneers of future technology in the subcontinent.
Since entering the Indian market in 1996, Hyundai Motor has shown a dedicated commitment to corporate social responsibility. This IPO marks the beginning of a new chapter in its journey in India, with a renewed focus on transparency, social contribution, and technological innovation.
The company’s commitment extends beyond profit-making, with a dedicated focus on social contribution activities aimed at customers, employees, suppliers, the environment and local communities. In November last year, Hyundai Motor launched the ‘Samarth by Hyundai’ campaign, a testament to its global vision of ‘Progress for Humanity.’
In addition, Hyundai Motor has consistently demonstrated its commitment to social responsibility since entering India. In 2006, the company established the Hyundai Motor India Foundation (HMIF), a social responsibility foundation in the Indian region, which has been actively operating ever since.
As a company that has become an integral part of the Indian national fabric, Hyundai Motor pledges to continue fulfilling its social responsibilities, reinforcing its commitment to the growth and development of the Indian community. The company’s dedication to its social responsibilities reflects its commitment to India, embodying its belief in mutual growth and cooperation.
SOURCE: Hyundai
