Hyundai will produce its $5,000 car in India

Hyundai Motor India Limited Chief Executive Officer Lheem Heung-soo told Nikkei in an interview that the 800cc car, to be manufactured at its Chennai factory, would retail for $5,000-$6,000, adding the vehicle’s debut was several years away.

In addition to the rollout in India, where Hyundai is ranked number two, the model will be shipped to other emerging countries, the newspaper said, quoting Lheem. A Hyundai spokeswoman said the company was developing a small-size model in India but declined to give details such as likely price or timing of sale.

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