HMIL Senior vice-president (Marketing & Sales) Rakesh Srivastava confirmed this news at a media interaction in Kolkata.

He also stated that the South Korean manufacturer had both the technical capability and capacity to make an SUV and introduce it here within two years.

He further said that Hyundai's response to the rapidly evolving compact SUV segment was still in the 'study' stage.

However, sources revealed that the vehicle's shell had already been created and its interiors are being finalized.

The Hyundai ix25 Concept, displayed this year at the Beijing Motor Show is likely to come to India.

At the media interaction, it was revealed that design elements of the new compact SUV  would follow the Fluidic Sculpture 2.0 design philosophy.

Rakesh Srivastava said, "This is the second phase of the fluidic sculpture design philosophy that was first introduced with the i10 and i20 and extended to all the products except the Santro. All new entrants will sport the new design while the existing models will be refreshed."

"We would like to have a presence in all the volume segments in India. Having established a deep hatch and sedan portfolio, we will look at the MPV apart the compact SUV segment," he said.

He further added that Hyundai would launch at least one new product every year, apart from updating its existing product line.