The car will be priced between Rs. 3.99 lakh and Rs. 5.43 lakh
CHENNAI: Hyundai Motor India Ltd., (HMIL) has launched a new ‘i10’, powered by a 1.2 litre Kappa engine, at its plant in Chennai.
The car will be priced between Rs. 3.99 and Rs. 5.43 lakh.
The company has invested $421 million in research and development of the Kappa engine and $250 million on the new engine and transmission plant at Sriperumbudur.
Addressing a press conference here on Tuesday, H. S. Lheem, Managing Director, said the new engine and transmission plant with a capacity of 2.5 lakh units annually, would produce the new Kappa engine to be fitted in the ‘i10’ meant for both the domestic and the export markets.
On the new Kappa engine, he said, ‘it was exclusively manufactured in India and this showed how Hyundai was committed to make India as a global small car hub.”
The engine, developed in 48 months, would be launched in five variants of ‘i10’ such as Magna, SportZ, Asta, Asta Option, and Automatic, which will have sunroof, 2-din audio system and other special features.
He said the new Kappa ‘i10’ would be sold along with the existing Epsilon 1.1 litre engine variant and would be available in a range of 10 colours. The Kappa engine-fitted ‘i10’ would also be available with an automatic transmission. A four-speed automatic gearbox was mated to this all new, powerful engine which would add to the convenience of city driving.
Mr. Lheem said with the launch of these models, the contribution from Indian operations to overall global sales of the company would increase to 15 per cent in a couple of years from 12 per cent now.He said Hyundai Motor had become the fifth biggest car maker in the world.
He, however, said that the current 1.1 litre engine would continue to power both ‘Santro’ and ‘i10’, but the new Kappa engine would significantly raise the bar in this segment.
Since its launch eight months back, the company had sold 1.85 lakh units of ‘i10’ of which 75,000 units were sold in the domestic market.
Mr. Lheem said his company would launch a new small car ‘i20’, by the end of this year, which would complete the company’s product portfolio in the compact car segment.
Hyundai Motor aims to make India as the global hub for its compact car production.
The new production facility would raise the company’s engine production in India from 3.20 lakh to 5.70 lakh units.