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/ Hyundai Capital

Hyundai Capital is launching full-scale operations in India, which has emerged as the world's third-largest auto market. The company plans to expand its business by supporting sales for Hyundai Motor Group, which is accelerating its push into the Indian market.

Hyundai Capital announced on the 31st that it has converted its existing consulting entity in India into a financial entity and commenced business operations. Hyundai Capital India is the company's 14th overseas financial entity and operates under standalone management rather than as a joint venture.

In March this year, Hyundai Capital secured a Non-Banking Financial Company (NBFC) license from the Reserve Bank of India (RBI), establishing the foundation to enter the local financial market for Indian customers. Drawing on its extensive auto finance experience and know-how accumulated across various global markets, Hyundai Capital plans to pursue a localized strategy tailored to local market conditions and customer needs.

Backed by rapid economic growth and a population exceeding 1.4 billion—the largest in the world—India has firmly established itself as the world's third-largest auto market. In particular, Hyundai Motor Group has been accelerating its local expansion by steadily increasing production capacity while strengthening its electric vehicle lineup targeting the Indian market.

Hyundai Capital plans to expand its business in phases, aligning with Hyundai Motor Group's strategy in India. Reflecting the characteristics of the Indian market, where the territory is vast and regional financial conditions vary widely, Hyundai Capital India will initially focus its operations on dealer finance, providing financial services to local auto dealerships.

Alongside expanding its dealer finance network across India, Hyundai Capital plans to accelerate efforts to establish stable sales and risk management systems for retail financing targeted at general consumers.

"Building on the auto finance know-how we have developed in South Korea and key global markets, we plan to roll out various financial services in India to support sales across Hyundai Motor Group," said Chung Hyung-jin, CEO of Hyundai Capital. "We will do our utmost to achieve both growth and stability based on a management strategy optimized for the Indian market."

                                                                                                           Lee Sun-young