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SEOUL, South Korea’s Hyundai Motor is planning to produce a low-cost mini car in India by 2011. This is the competition with locally produced vehicles such as Tata Motor’s New Nano car, a company executive said Wednesday.

The mini car, low-cost and fuel-efficient model will be priced between 3.5 million Korean won and 5 million won (US$3,700; euro2,500), Cho Won-suk, executive vice president of Hyundai Motor’s Advanced Technology Center, told Dow Jones Newswires at an industry event.

“No production of the mini-car is planned for South Korea”, Cho said.
Tata Motors Ltd. Based at Mumbai, recently launched Nano car, billed as the cheapest car in the world, and said it will go on sale for US$2,500 by this October.
Cho said, “Hyundai plans to introduce a version of its Avante sedan powered by LPG by 2009.”

Hyundai Motor is the 2nd largest automaker in India, where mini car dominate the market. Japan’s Suzuki Motor Corp. is having fifty percent share, is the market leader. Tatas is 3rd one.

The company also plans to introduce a sporty vehicles and midsize sedans power by fuel cells by 2012 and the launch of hybrid car by 2020, he added.