Inaugurating the Hyundai Motor Assembly Plant in Ramgram, Parasi, Laxmi Motor Corporation (LMC), a subsidiary of Laxmi Group, also a parent company of Laxmi Intercontinental Pvt. Ltd., the authorized distributor of Hyundai vehicles in Nepal, celebrated a momentous occasion on 10 th May, 2024, Friday.

The ceremony was graced by the esteemed presence of Rt. Hon’ble Prime Minister Mr. Pushpa Kamal Dahal, Hon’ble Chief Minister of Lumbini Pradesh Mr. Jokh Bahadur Mahara, His Excellency Ambassador Park Tae Young, Managing Director and Chief Executive Officer from Hyundai Motor India Ltd., Mr. Unsoo Kim and other distinguished guests from local authorities.

Spanning an impressive expanse of 65,000 sq m., with a substantial built-up area of 14,000 sq.m, the LMC Hyundai Motor Assembly Plant stands as a testament to major investment in Nepal’s automotive landscape.

Additionally, with a notable annual capacity of 5,000 units per shift, the facility is established to revolutionize Hyundai vehicle production nationwide, complying with all the standards of Hyundai Motor Company (HMC).

LMC established the factory with the technical supervision of HMC ensuring every vehicle produced meets its highest standard protocols in terms of performance, safety, and reliability. LMC’s dedication to quality is evident through its utilization of imported Completely Knocked Down (CKD) parts and their meticulous assembly in the modern facility.

During the formal inauguration ceremony, Rt. Hon’ble Prime Minister Mr. Pushpa Kamal Dahal highlighted the significance of how Hyundai Nepal has contributed to Nepal’s outstanding progress in the automobile industrialization sector, which has led to a surge in employment opportunities for all Nepali citizens, fostering widespread economic growth and prosperity.

Expressing confidence that the establishment of this new industry will attract more domestic and foreign investors in the industrial sector of Nepal.

Managing Director and Chief Executive Officer from Hyundai Motor India Ltd., Mr. Unsoo Kim expressed his enthusiasm for the new Hyundai Motor Assembly Plant in Nepal located at Ramgram, Parasi, highlighting the impact of advanced technology and skill transfer on customer satisfaction.

The inauguration ceremony was followed by a plant tour where the event marked a significant milestone in the automotive industry of Nepal and witnessed the historic roll-out of the first ‘Made in Nepal Hyundai Venue.

With this, LMC has already started the production work on Hyundai Venue, focusing on its compact SUV segment, a successful model’s assembly and manufacturing.

The plant will be assembling various other models of Hyundai vehicle.

Through the commitment to manufacturing more affordable and accessible Hyundai vehicles, LMC endeavors to cater to the diverse needs and aspirations of a wider customer base, thereby enriching lives and driving mobility across the nation.

At the moment, Laxmi Intercontinental has a distinctive market reach with 16 showrooms of Hyundai cars, 19 service centers, and 45+ charging points across Nepal.

So, to guarantee customer satisfaction, with its sister concern, LMC, Laxmi Intercontinental is planning to grow its network more in tier 2, and tier 3 markets soon.