Hyundai Motor India Limited (HMIL) and Laxmi Group announced the commencement of local assembly of Hyundai VENUE in Nepal. The country's first automobile assembly plant was inaugurated by Shri. Pushpa Kamal Dahal, the Hon'ble Prime Minister of Nepal, and Mr. Tae-Young Park, Ambassador of the Republic of Korea, in Nepal on May 10, 2024. Hyundai VENUE's plant in Nepal has an installed capacity of assembling 5,000 units annually.

Commenting on the commencement of assembly, Unsoo Kim, MD & CEO, Hyundai Motor India Limited, said, "The Hyundai VENUE will be the first locally assembled model to roll off the plant. I would like to convey my sincere congratulations to the people of Nepal for this achievement. We are immensely grateful to the Hon'ble Prime Minister Shri. Pushpa Kamal Dahal and the Government of Nepal for their unwavering support. We look forward to more encouraging policies and incentives from the Nepal government aimed at developing a conducive environment for local assembly."

"The commencement of this plant has been possible with the able support of Laxmi Group, local partners, and the essential support from Hyundai Motor Company (HMC), Korea, along with Hyundai Motor India Limited, contributing their expertise in terms of advanced technology and the transfer of skills," added Kim. 

Hyundai Motor and Laxmi Group's industry first vehicle assembly plant in the country will pave the way for promoting localisation and employment generation.