Claiming it to be most superior car technically, Hyundai officials say that under test conditions Santro gives a mileage of 27 km per litre. The car will be available in three variants -- Santro, Santro DX with power windows and central door locking, and Santro LX with power steering. Santro engine is in-line 4-cylinder 12 valve, single overhead cam.

The company has entered into a tie-up with Bank of America for financing the car. Hyundai is also holding talks with 14 other finance companies for car financing.

Hyundai Motor India Ltd, 100 per cent subsidiary of Hyundai Motors set up in 1996, plans to make an investment of US $1 billion by the year 2001 in India. The company is also planning to make India a main export base targeting an export turnover of Rs 4,500 crore in nine years, Y S Kim managing director of Hyundai Motor India Ltd (HMIL) said. The car comes with CFC-free air-conditioning and is be available in six colours.

Delivery of the car would begin on October 18 and advanced booking would start from October 8, Kim said. Santro has a multi-fuel injection system for improved fuel economy, better suspensions and the latest international `tall boy' design, Kim said and added that the company hopes to sell 20,000 Santros in the current fiscal.

The company had already achieved an indigenisation level of over 70 per cent and would raise it to over 80 per cent in the next few months, he said.

HMIL has already set up a network of 70 dealers across the country, covering as many as 55 cities, Kim said, adding that there would be a one year warranty for the car.