HS Hyosung Advanced Materials announced on November 12 that it will invest $30 million (approximately 430 billion KRW) to establish "HS Hyosung India Private Limited" in Nagpur Industrial Zone, Maharashtra, India.
The project involves the construction of a new factory covering approximately 70,000 square meters, with a target completion date of 2027. The company plans to gradually expand production lines for key products such as airbag fabrics in the future.
India is rapidly growing as the third-largest automobile market in the world, with increasing demand driven by infrastructure development and logistics industry expansion, particularly for tire production. HS Hyosung aims to strengthen its local supply chain and meet procurement demands of major customers through this investment, thereby expanding its market share.
Tire cords, which are inserted inside tires to enhance safety, durability, and driving performance, are core reinforcing materials. HS Hyosung has maintained over 20 years of global leadership in this segment, holding roughly 50% of the world market share. Its existing production bases are in Vietnam, China, and the United States. The new Indian facility will further reinforce its global supply network.
In addition, HS Hyosung collaborates with major global clients on R&D projects and offers customized technical solutions. Recently, in line with the widespread adoption of electric vehicles, the company has launched lightweight high-strength tire cords and high-elasticity products to enhance driving performance, diversifying its product portfolio.
