Hyundai Capital Services launches financial business in India, expands auto finance

[Financial News] Hyundai Capital Services is officially launching its financial business in India. It will convert its existing local advisory unit into a finance subsidiary and target the market with a focus on auto finance.
Hyundai Capital Services said on the 31st that Hyundai Capital India has begun operations. The new entity is the company’s 14th financial subsidiary and a stand-alone overseas unit with independent management, not a joint venture.
Earlier in March, Hyundai Capital Services obtained a Non-Banking Financial Company (NBFC) license from the Reserve Bank of India (RBI). Based on that approval, it secured a foundation for providing financial services to local customers.
India has grown into the world’s third-largest automobile market, supported by a population of more than 1.4 billion and rapid economic growth. Hyundai Motor Group is also expanding its business in India by increasing local production capacity and strengthening its EV lineup.
Hyundai Capital Services plans to expand its financial business step by step in line with the group’s broader expansion in the country. In the early stage, it will focus on dealer finance for auto sellers, taking into account the wide regional differences in India’s financial environment.
It also plans to expand its financial network across India and build sales and risk management systems for future retail finance aimed at individual customers.
Jeong Hyeong-jin, president of Hyundai Capital Services, said, "Based on our expertise in auto finance accumulated in global markets, we will introduce a range of financial services in India that support Hyundai Motor Group’s sales." He added, "With a strategy optimized for the local market, we will achieve both growth and stability."


[email protected] Hong Ye-ji Reporter