In a landmark development for Nepal’s automotive industry, Hyundai Motor India Limited (HMIL) and Laxmi Group have commenced the local assembly of Hyundai VENUE, marking the inauguration of the nation’s inaugural automobile assembly plant. The auspicious event took place on May 10, 2024, graced by the presence of Shri. Pushpa Kamal Dahal, the Hon’ble Prime Minister of Nepal, and Mr. Tae-Young Park, the Ambassador of the Republic of Korea.
“This plant in Nepal has an installed capacity of assembling 5000 units annually, and Hyundai VENUE will be the first locally assembled model to roll off the plant. I would like to convey my sincere congratulations to the people of Nepal for this achievement!” stated Mr. Unsoo Kim, MD & CEO of Hyundai Motor India Limited, highlighting the significance of this milestone.
Mr. Kim also expressed gratitude towards the Government of Nepal for their steadfast support, while emphasizing the importance of conducive policies and incentives for furthering local assembly efforts.
The collaboration between Hyundai Motor India Limited, Laxmi Group, and Hyundai Motor Company (HMC), Korea, has been instrumental in realizing this feat. Through the transfer of advanced technology and skills, this partnership ensures the delivery of high-quality vehicles to Nepali consumers, fostering satisfaction and long-term customer experience.
The establishment of Nepal’s first vehicle assembly plant not only signifies a step towards localization but also holds the promise of employment generation within the country. By leveraging Hyundai’s expertise and Laxmi Group’s local presence, this initiative aims to propel Nepal’s automotive sector forward.
About Hyundai Motor India Limited, a subsidiary of Hyundai Motor Company, HMIL boasts a robust network of sales and service points across India, offering a diverse lineup of vehicles aligned with sustainable manufacturing practices.
Meanwhile, Laxmi Hyundai, a pivotal distributor of Hyundai in Nepal under Laxmi Group’s umbrella, has been serving customers since 2009, demonstrating a commitment to excellence in customer service. As part of Laxmi Group, a conglomerate with a rich history spanning nearly five decades, Laxmi Hyundai stands as a testament to the group’s dedication to various industries, including automobiles. With this collaborative effort, Hyundai Motor India Limited and Laxmi Group are poised to reshape Nepal’s automotive landscape, fostering growth and innovation in the region.
