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By Our Special Correspondent
Addressing presspersons at the factory premises, the new Managing Director, J.I. Kim, said a blueprint had already been finalised to take ``HMIL to its next phase of growth''. Line expansion, capacity beef-up and introduction of new models and variants formed the core of the blueprint drawn up by the company, he said. Mr. J.I. Kim replaced Y.S.Kim who had been moved to supervise a greenfield project that the Korean automobile giant is putting up in the U.S. According to B.V.R. Subbu, President, the line extension would be more in the form of rationalisation of lines to facilitate the company bring more models and variants into the Indian market. The existing lines are churning out Santros and Accents. The rationalisation, it was explained, could see HMIL bring out yet another model from its assembly line. Mr. Subbu, who took over charge from A.P. Gandhi who retired, indicated that capacity expansion would follow line extension. The Korean company had already moved the State Government seeking appropriate clearances. The capacity expansion, he said, would be in phases. The first phase would see it expand from 1.20 lakhs to 1.50 lakhs latest by September next year. Ultimately, the capacity would go up to two lakhs. The total cost of the line-cum-capacity expansion programme would be $200-250 million. HMIL was confident of funding this from internal generation. Even as it is gearing to expand, HMIL is set to launch a five-door Accent, common rail direct injection diesel Accent and automatic transmission version of Santro over the next few months. He was, however, non-committal on the much-expected launch of Terracon, the sports utility vehicle. He merely said studies conducted revealed customer preference for high horse power, high performance and high spec product. Mr. Subbu expected the overall car market to grow just by two per cent.
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