The company's top brass stated these at a press meet held to mark the launch of its second offering, Accent, in the mid-size segment. Powered by a 1500cc four-cylinder Hyundai Alpha engine, Accent will be a technologically superior vehicle compared to most other premium vehicles available in the country today, according to marketing director BV Subbu.

It will have a direct digital injection technology, suspension to suit local road conditions, world class interiors and will comply with the Euro-II norms. Accent, like Santro, would occupy the top slot in terms of technology in its category, Subbu said.

He, however, refused to spell out the pricing of Accent but said the cost would take into account the advanced technology offered and would not be underpriced. Some company officials, however, did indicate that the deluxe petrol version may be pegged at Rs 7 lakh.

The company has also drawn up plans to reward its existing customers by earmarking about 750 Accents to its Santro owners. These customers, however, cannot exchange their Santro with Accent. On the export front, the company initially plans to sell Accent in south-east Asian markets and then get into other right hand-drive markets.

The company has invested close to $100 million on dies for Accent and it would break even at 60 per cent capacity utilisation, that is, 18,000 cars a year. The company's production capacity is 80,000 Santros and 30,000 Accents. But for the engine manufacturing capacity, which is a limiting factor, the production capacity could be more, Hyundai Motor India president AP Gandhi said.

Meanwhile, 50,000 Santros are expected to be on the roads by the first week of October. Company officials claim that it is the fastest ramp up in the country's automobile industry (The company on September 22 completed its first anniversary of Santro launch). The plant is already working two shifts and selling about 7,000 Santros a month. According to Gandhi, efforts are on to increase manpower and add certain balancing equipments to up capacity.

Company officials also ruled out the possibility of an initial public offering in the near future. They said that though the Santro has been well received in the market what is more important for acceptability in the stock market is the performance of the bottom line. At present, the company is a 100 per cent subsidiary of the $ 8.24 billion Hyundai Motor Company.