Hyundai Staff Strength To Zip By 1,300

New Delhi, May 22: | Updated: May 23 2003, 05:30am hrs
The Rs 4,000-crore Hyundai Motor India Ltd has firmed up plans to induct over 1,300 employees by mid-2004, taking the employee strength from 2,700 to 4,000. The new drive is aimed to support the companys plan to double its installed annual capacity to 2.5 lakh cars by December 2004.

Says company executive director (marketing and sales) Bong Gou (Bernardo) Lee: Hyundai will emerge as one of the major employers, and hopefully, also as a major exporter. Our exports should touch 70,000 units in 2004 and 30,000 units in 2003.

The recruitment drive is significant for the automobile industry, which has recently been hit hard by a series of retrenchments, voluntary retirement schemes and even plant closures. Speaking to FE, Mr Lee said that a bulk of exports will be absorbed by Europe, followed by Latin America, Middle East and Africa.

Mr Lee said that all Hyundai dealerships would sport a new corporate identity, induct aptly qualified manpower and follow a revised guideline for working capital expenditure. We will have a base of 140 dealers by the year-end, he said.