India's largest passenger car exporter and second largest passenger manufacturer Hyundai planning to launch new car in India in small car segment. It is expected that the new small car from Hyundai's product portfolio will be priced at around Rs 2.5 lacs. The new small car will be powered by 800cc engine and it will be targeted towards emerging economies and it will be manufactured at Hyundai's Chennai based manufacturing plant in Sriperumbudur. However, the launch of this new car is still a few years away.

As per the statement of company's senior official, exact prices and the timeline of launch is still not decided but it is sure that the new small car will be costlier than the Tata Nano, General Motors new small car mini and Bajaj Renault's ULC (Ultra Low Cost Car) that might be launched in Indian market by the end of next year. Hyundai planning to launch new car in India below the company's most successful model Hyundai Santro. The new small car is still under the concept stage at Research and Development center in Korea.

In an age of electric cars, hybrid cars and alternative fuel technology, small car market in India and overseas is rapidly growing. Small cars with eco-friendly and fuel-efficient technologies is the new concept ringing in ears of all auto manufacturers.

Some of the other upcoming cars that is going to be launched in Indian market in next two months are Chevrolet Cruze, Tata Indicruz, Tata Indigo Vista, BMW Z4 and Volkswagen Beetle.