Hyundai Motor India Limited (HMIL) and Laxmi Group have announced the launch of Nepal’s first automobile assembly plant, marking a significant milestone for the country. The plant’s first locally assembled model is the Hyundai Venue, showcasing the collaboration’s achievement in advancing the local auto industry. The facility boasts an annual production capacity of 5,000 units.
On May 10, 2024, the assembly plant was inaugurated by Pushpa Kamal Dahal, the Prime Minister of Nepal, and Tae-Young Park, Ambassador of the Republic of Korea. During the event, Unsoo Kim, MD & CEO of Hyundai Motor India Limited, expressed his excitement about the plant’s potential. “This plant in Nepal, with an annual assembly capacity of 5,000 units, marks a significant milestone with the Hyundai Venue being the first locally assembled model. Congratulations to the people of Nepal for this remarkable achievement!” he stated.
Kim also conveyed gratitude to the Nepalese government for their support. “We are profoundly thankful to Hon’ble Prime Minister Pushpa Kamal Dahal and the Government of Nepal for their steadfast support. We anticipate more favorable policies and incentives from the Nepal Government to foster a supportive environment for local assembly,” he added.
The successful establishment of this plant was made possible through the joint efforts of Laxmi Group, local partners, and the essential support from Hyundai Motor Company (HMC), Korea, and Hyundai Motor India Limited. Their combined expertise in advanced technology and skill transfer has been pivotal. Laxmi Group will manufacture and sell Hyundai cars in Nepal, ensuring continued customer satisfaction with ongoing support from HMC Korea and Hyundai Motor India.
The collaboration between Hyundai Motor and Laxmi Group marks a significant step forward in promoting localization and generating employment in Nepal.
