Hyundai Motor India Signs Long-term Wage Settlement

Hyundai Motor India Limited [HMIL] and United Union of Hyundai Employees [UUHE], the recognized union today announced the successful conclusion and signing of a mutually beneficial wage settlement agreement for the period 2024-2027.

The long-term wage settlement will be effective from April 1, 2024, through March 31, 2027. The revised all-inclusive compensation package sets a new benchmark in the automotive industry. The package includes an industry-best salary increase of INR 31,000/- per month, structured over a three-year period in the ratio of 55%, 25%, and 20%. In addition to the salary increase agreed between the company and the union, HMIL continues to lead the industry in employee welfare including best-in-class health coverage and advanced wellness programs.

Mr. Youngmyung Park, Function Head - People Strategy, HMIL, stated, "At Hyundai, our people are the cornerstone of our success. This agreement, built on mutual trust, respect, and constructive dialogue, reflects our shared commitment to fostering a progressive workplace culture that prioritizes employee welfare and supports longterm organizational growth."

Registered in 2011, the United Union of Hyundai Employees [UUHE] is the officially recognized representative body for the workforce of Hyundai Motor India Limited [HMIL]. As of August 31, 2025, UUHE represents a membership of 1,981 employees (90% of technician/workmen cadre), reflecting its continued commitment to advocating for employee welfare, rights, and constructive engagement with management.

Shares of Hyundai Motor India Limited was last trading in BSE at Rs. 2651.45 as compared to the previous close of Rs. 2602.15. The total number of shares traded during the day was 30626 in over 2867 trades.

The stock hit an intraday high of Rs. 2659.05 and intraday low of 2560.50. The net turnover during the day was Rs. 80012859.00.

Source : Equity Bulls

Keywords

HyundaiMotorIndia INE0V6F01027 PassengerCars UtilityVehicles Longterm WageSettlement