Nepal marks a significant milestone with the rollout of the Hyundai Venue, its inaugural domestically manufactured vehicle. Established through a partnership with local firm Laxmi Group, Hyundai’s new assembly plant boasts an annual capacity of 5000 units. The plant’s inauguration, attended by Nepal’s Prime Minister Pushpa Kamal Dahal and Republic of Korea's Ambassador Tae-Young Park, took place on May 10, 2024.
Commenting on the commencement of vehicle assembly in Nepal, Unsoo Kim, MD & CEO – Hyundai Motor India Limited said, “We are immensely grateful to the Hon’ble Prime Minister Shri Pushpa Kamal Dahal and the Government of Nepal for their unwavering support. We look forward to more encouraging policies and incentives from the Nepal Government aimed at developing a conducive environment for local assembly.”
Hyundai Venue | File
Laxmi Group takes on the task of producing and distributing Hyundai cars in Nepal. While spearheading this endeavour, the company assures continued support and collaboration from HMC Korea and Hyundai Motor India in various areas such as product development, technology, and quality assurance.
With Hyundai’s robust presence in Nepal and India’s stature as a top car exporter, this collaboration aims to further solidify their foothold in the Nepalese market. Moreover, the establishment of Nepal’s premier vehicle assembly plant is anticipated to catalyse local manufacturing and foster employment opportunities within the country.
