Hyundai Motor India Limited is studying the feasibility of rolling out Elantra on the Indian roads.

Speaking to reporters HMIL executive director (marketing and sales) B G Lee said on Kolkata on Monday that Elantra would be positioned between its two other popular cars Accent and Sonata.

The response to Santro, Accent and Sonata had enthused the Korean major to introduce a separate model to be pitted against cars like Skoda Octavia, Honda City and Toyota Corolla, Lee said.

Lee, who launched the Santro Xing in Kolkata, said production of Santro would be totally phased out in Korea and India would become the major hub of operation for this model soon.

About capacity expansion for its India operations, Lee said within the next two years, production would rise from 150,000 cars to 250,000 on a two-shift basis.

The company has planned to make an investment of Rs 1,000 crore (Rs 10 billion) to be mainly funded from internal reserve, he said pointing out that HMIL had been earning profits since last four years.

On the export front, the company plans to sell about 30,000 units in the European market in 2003 with an earning potential of $120 million.