Hyundai Motor India said on Friday it plans to roll out its low-cost car at $3,500 in India by 2012. The low priced Hyundai is in the process of evolution stage at its research and development centre in Korea.

Acording to reports, it will take Hyundai about 4 years to develop their low-cost mini car before beeing launched to Indian consumers in 2012.

Hyundai Motor India Managing Director and CEO, H. S. Lheem, also told reporters that the company is planning to introduce several new models during this year in Indian market. The slew of new Hyundai models will include Santro LPG, Accent CNG and LPG variants, and the new i20!