Seo Bo-shin, MD and CEO of Hyundai Motor India, at a launch event of compact SUV CRETA held at Delhi, India, on July 21./ Photographed by Ha Man-joo

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By Ha Man-joo, India correspondent, AsiaToday - Hyundai Motor India is planning to launch 2-3 new models every new year to compete with its rival Maruti Suzuki, said the company on Thursday.

"We plan to launch a new model every six months and half of the year," an official from Hyundai Motor India told AsiaToday, commenting on the company's strategy in lieu of rival Maruti Suzuki, the largest car maker in India, planning to launch over 15 new models in India by 2020.

Ahead of this, Hyundai Motor India MD and CEO Seo Bo-shin attended an inauguration of the manufacturers first dealership in Leh, Jammu and Kashmir, and said, "In the last two years, we have launched seven models. We plan to launch 2-3 new models, including full model changes, every year continuously till 2020."

As a party of its strategy in the Indian market, Hyundai is reportedly developing models like a multi purpose vehicle (MPV), a small SUV and full model changes for its sedan Elantra and Verna.

When asked how Maruti Suzuki's strategy would affect Hyundai, Seo said, "We are watching the market very closely. We will keep bringing great products into the Indian market continuously to satisfy Indian customers. We want to be the most loved and trusted company in the Indian market."