Hyundai Motor India, a subsidiary of South Korea's Hyundai Motor Company, has initiated vehicle assembly operations in Nepal, collaborating with the Laxmi Group to establish a new plant with an annual capacity of 5,000 units.
The Laxmi Group, a prominent conglomerate in Nepal with various business ventures, has served as the primary distributor for the Hyundai brand in the country since 2009. With 16 main dealers spread across 15 towns, the company has established a significant presence. The newly established assembly plant marks Nepal's first venture into vehicle assembly, potentially fostering localization efforts and generating employment opportunities within the nation.
The Nepalese Prime Minister, Pushpa Kamal Dahal, presided over the inauguration of the new plant alongside Unsoo Kim, MD and CEO of Hyundai Motor India, and Tae-Young Park, Ambassador of the Republic of Korea in Nepal, along with other distinguished guests. This assembly facility in Nepal marks the beginning of mass production for the Hyundai Venue compact SUV, the first model to roll off its production line.
According Unsoo Kim, MD and CEO, Hyundai Motor India, “We are immensely grateful to the Prime Minister of Nepal Pushpa Kamal Dahal and the Government of Nepal for their unwavering support. This plant in Nepal has an installed capacity of assembling 5,000 units annually, and the Hyundai Venue will be the first locally-assembled model to roll off the plant”.
“I would like to convey my sincere congratulations to the people of Nepal for this achievement. We look forward to more encouraging policies and incentives from the Nepal Government aimed at developing a conducive environment for local assembly”, added Kim.
The successful launch of Nepal's inaugural vehicle assembly plant owes much to the vital assistance from Hyundai Motor Company (HMC) in Korea, as well as Hyundai Motor India, who provided their expertise in advanced technology and skill transfer. Consequently, while Laxmi Group and its local partners handle the production and sale of Hyundai vehicles in Nepal, customers can expect sustained satisfaction and a seamless experience. This assurance stems from ongoing collaboration and support in areas such as product development, technology, and quality initiatives from HMC Korea and Hyundai Motor India.