Hyundai under pressure from Tata, Mahindra as $3.5 billion India IPO looms

July 9, 2024

Tata Motors and Mahindra challenge Hyundai for India’s No.2 spot amid Hyundai’s $3.5 billion IPO plan. Hyundai held 13.5% sales, Tata 13.2%, Mahindra 12.4%, Maruti Suzuki tops with 40%. Hyundai faces market challenges, acknowledges COO Tarun Garg. Significant investments in EVs and capacity expansions are planned by 2026, according to the Federation of Automobile Dealers.

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