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After Tata’s Nano car in the market, cheap and compact car competitions are growing by the day in the market.

Hyundai is working on the new project which relate to the more compact and budgetary car compare to the Santro car. This project will take three years to roll out.

The South Korean, Hyundai Motors that planned to open it’s second plant in India, reported that the new car model would be smaller than the “Santro” and would be cheaper and budgetary car to suit in global market.

Currently the cheapest version of the Santro is having a price of Rs 2.7 lakh. They are planning to price close to Rs 2 lakh. According to Jha, the company’s research and development centre at Hyderabad would be working on this project.

In India, Hyundai’s total capacity is about 3 lakh units and after the second new plant, it will be around 6 lakh units.