Korean chaebol — Hyundai Motor India Ltd, on Wednesday, introduced its new compact car, ‘i10’ priced between Rs 3.39 lakh and Rs 3.98 lakh. This is the first car from Hyundai which makes its world debut in India.

“The i10 will be manufactured only in our Indian plant and exported to over 70 countries,” Hyundai Motor Company President Jae Kook Choi said here. The new i10 is powered by a 1.1 liter petrol engine with five speed manual transmission.

Mr Choi said Hyundai Motor India is poised to play a very important role not only in India but also in HMC’s global plans. “We hope that with India becoming the hub for small cars we would see a significant increase in the company’s presence in many more countries,” he added. HMC plans to export half of its production in India by 2009.

Hyundai expects to sell a minimum of 1.5 lakh units of i10 next year in the domestic market, Hyundai Motor India Limited Managing Director HS Lheem said. Mr Choi said “Hyundai Motor’s India operation constitutes an important part of HMC’s global plans.

India will be our manufacturing hub for small compact cars. By 2009 our Indian unit will account for 30 per cent of Hyundai’s total international production.” “Our overall production capacity in India will touch 6,00,000 cars per annum by 2009. We hope to export half of this production,” he added.