South Korean automaker gearing up for 3 billion India IPO
Will introduce first Indiamade EV, an SUV, in early 2025
To launch at least two new gasolinepowered SUVs starting in 2026sources

NEW DELHI, Aug 29 Reuters Hyundai Motor, long the most successful foreign automaker on Indian roads, is hoping to regain market share from increasingly formidable domestic rivals by launching a series of new SUVs as it gears up for a 3 billion public listing in the country.

The SUV rollout will begin with its first Indiamade electric vehicle early next year and the launch of at least two gasolinepowered models tailored for the market starting in 2026, said three sources with knowledge of the company39;s plans.

The strategy of adding highermargin offerings, pursued in tandem with Hyundai39;s first listing outside South Korea, indicates its bullish outlook on the world39;s thirdlargest car market as its China footprint shrinks and sales at home decline.

Hyundai39;s sales in India have lagged only Maruti Suzuki39;s, though a rapidly changing competitive landscape has seen domestic behemoths Tata Motors and Mahindra Mahindra eat into its market share with new SUVs which, instead of oncefavoured small cars, are the hottest selling vehicles.

This has lowered Hyundai39;s India market share to 14.6 from 17.5 four years ago, while Tata39;s share has nearly tripled to 14 over the same period. The next biggest foreign rival, Toyota has seen its share rise to 6 from 4.

Hyundai is in a…