Industry Odisha Bureau, Oct 16: Stellantis, Hyundai and Suzuki are committing fresh billions to India. They are building local supply chains, R&D hubs and export bases. Tata Motors and Mahindra keep gaining market share.
Detroit’s auto giants once fled India after struggling in a tough market. Today, a new wave of global auto majors is doubling down instead. Some MNC carmakers are clearly changing the script on India.
Stellantis, Hyundai and Suzuki have announced large investment commitments in recent months. They want a bigger share of the world’s third-largest car market. Meanwhile, homegrown rivals Tata Motors and Mahindra & Mahindra keep gaining ground.
The Money on the Table
Hyundai Motor Group has made the largest pledge. It has committed $15.5 billion, or about ₹1.48 trillion, between 2026 and 2032. The money covers manufacturing expansion at Hyundai Motor India and Kia India. Hyundai also aims to expand capacity and strengthen India’s role as an export hub.
About $700 million is earmarked for an R&D centre and vehicle testing track. The group also plans investments in EV charging, vehicle recycling and automotive finance. Supplier development, startups and mobility services are also on the list.
Suzuki outlined a ₹77,500 crore investment plan in August. Stellantis has added ₹4,000 crore over the next three years. That will lift its cumulative India investment to ₹15,000 crore. These are commitments, not money already spent.
Local Rivals Rewrite the Rankings
Dealership data shows a sharp shift in market share. Mahindra & Mahindra’s retail share rose to 13.42% in FY26 from 5.35% in FY21. Tata Motors climbed to 13.04% from 7.87% over the same period.
Hyundai’s share slipped to 12.29% from 17.36%. Honda fell to 1.29% from 2.99%, while Renault dropped to 0.83% from 3.15%. Maruti Suzuki remains the leader, though its share fell to 39.71% from 48.73%. A lower share does not necessarily mean lower sales in absolute terms.
Stellantis Bets on Speed and Exports
Stellantis held just 0.25% of the retail market in FY26. Its fresh funds will support 12 products over three years. These include seven new nameplates and five refreshed models. The first is due in the second quarter of 2027.
The line-up will span combustion-engine, hybrid and electric powertrains. India-built vehicles will be exported to more than 50 countries. Stellantis also aims to halve development time from 48 months to 24.
CEO and MD Shailesh Hazela called India a key market for growth. He said India would also serve as a base for Asia Pacific and the world.
Stellantis is deepening ties with Tata Motors Passenger Vehicles. The partnership now extends to engineering, supply chain and purchasing. A Jeep model on a Tata platform is expected for export markets. Such tie-ups aim to improve engineering efficiency and export competitiveness.
A Crowded Product Pipeline
Hyundai has outlined a 26-product offensive through 2030. Maruti Suzuki is preparing seven new SUVs by 2031. Stellantis plans seven new nameplates by 2029. Renault and Honda are renewing their India focus through new launches.
SIAM data shows passenger vehicle sales rose 28% to 2.63 million units in April–September.
India’s Bigger Global Role
India is no longer just a sales market for global auto firms. It is becoming a hub for engineering, suppliers and exports. The challenge for foreign brands is turning pledges into lasting market gains. For now, the script is changing, and competition is getting tougher.
