Hyundai Motor India has said that it plans to roll out a low-cost car by 2012. The car's target price will be US$3500.
H S Lheem, Managing Director and CEO of Hyundai Motor India said that it will take at least four years to develop the car, and a 2012 launch might be possible. It is currently in the evolution stage at Hyundai's R&D centre in Korea. However, the car will not compete against Tata's Nano.
Meanwhile, the Santro LPG, Accent LPG and CNG and the new i20 are scheduled for launch this year. The company also is considering a hike in car prices due to rising input costs.
