The Hyundai Venue has become the first-ever Made-In-Nepal vehicle to be rolled out of what is also the country’s first vehicle assembly plant. Built in partnership with the company’s local partner Laxmi Group, Hyundai’s new assembly plant will have an annual installed capacity of 5000 units. The plant was inaugurated by Pushpa Kamal Dahal, Prime Minister of Nepal, and Tae-Young Park, Ambassador of the Republic of Korea, in Nepal on May 10, 2024.
Commenting on the commencement of vehicle assembly in Nepal, Unsoo Kim, MD & CEO – Hyundai Motor India Limited said, “We are immensely grateful to the Hon’ble Prime Minister Shri. Pushpa Kamal Dahal and the Government of Nepal for their unwavering support. We look forward to more encouraging policies and incentives from the Nepal Government aimed at developing a conducive environment for local assembly.”
Hyundai’s new assembly plant will have an annual installed capacity of 5000 units
Going forward, Laxmi Group will produce and sell Hyundai cars in Nepal, however, the company says that there will be continued collaboration and support on products, technology and quality projects from HMC Korea and Hyundai Motor India.
Hyundai has been India’s largest exporter of cars and Nepal has been a major market for the company. With this latest development, the companies also hope that the industry’s first vehicle assembly plant in Nepal will also pave the way for promoting localisation and employment generation in the country.
