Hyundai Capital has officially launched its financial corporation in India, the world's third-largest automotive market, and is set to begin operations.
The company announced on August 31 that it is transitioning its existing advisory firm in India to a financial corporation named 'Hyundai Capital India.' This marks Hyundai Capital's 14th overseas financial entity, which will operate independently rather than as a joint venture.
In March, Hyundai Capital obtained a non-banking financial company (NBFC) license from the Reserve Bank of India (RBI). The company plans to implement a localization strategy tailored to the Indian market and customer characteristics, leveraging its global automotive finance experience.
Initially, the business will focus on dealer financing, providing financial services to local automotive sales dealers. This strategy takes into account the vast geography and diverse financial environments across India.
Hyundai Capital aims to expand its dealer financing network throughout India while also establishing a sales and risk management system for retail finance targeting general customers. As Hyundai Motor Group increases its production capacity and electric vehicle lineup in India, the financial support for automotive sales is expected to strengthen.
Currently, Hyundai Capital operates a total of 19 entities across 14 countries, including the United States, Canada, the United Kingdom, Germany, and Australia.
* This article has been translated by AI.
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