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Hyundai Capital launches financial services operations in India
Hyundai Capital has officially launched its financial services operations in India, transitioning from a consulting entity to a full financial entity. This move follows the company obtaining a Non-banking Financial Company (NBFC) license from the Reserve Bank of India in March.
Hyundai Capital India (HCIN) operates as an independent, stand-alone entity and marks the company's 14th financial entity globally. The company plans to implement a localized strategy to serve the Indian market, which is currently the world's third-largest automotive market.
In its initial phase, HCIN will focus on providing wholesale financing to local automotive dealers. The company also intends to build a robust sales infrastructure and risk management systems to prepare for the future launch of retail financing for individual customers. This expansion aligns with the broader strategy of Hyundai Motor Group to strengthen its presence in India through increased production capacity and an enhanced electric vehicle lineup.
Entities
Hyundai Capital · Hyundai Capital India · Hyundai Motor Group · Hyung-Jin David Chung · Reserve Bank of India
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 5 SOURCES] The company obtained a Non-banking Financial Company (NBFC) license from the Reserve Bank of India in March. onlinemediacafe.com · bizrapidx.com · businessnewsweek.in · biz.heraldcorp.com · www.joseilbo.com
- [● 5 SOURCES] Hyundai Capital India is the company's 14th financial entity and operates as an independent stand-alone entity. onlinemediacafe.com · bizrapidx.com · businessnewsweek.in · biz.heraldcorp.com · www.joseilbo.com
- [● 5 SOURCES] Initial operations will focus on wholesale financing for local automotive dealers. onlinemediacafe.com · bizrapidx.com · businessnewsweek.in · biz.heraldcorp.com · www.joseilbo.com
- [● 5 SOURCES] The company plans to establish sales infrastructure and risk management systems to eventually launch retail financing for individual customers. onlinemediacafe.com · bizrapidx.com · businessnewsweek.in · biz.heraldcorp.com · www.joseilbo.com
- [○ 1 SOURCE] Hyundai Capital reported a first-half net profit of 319.6 billion won and a delinquency rate of 0.78%. biz.heraldcorp.com