Hyundai Motor India Commits Rs 7000 Crore Investment In Tamil Nadu Facility

In an attempt to surge ahead of other rivals, the South Korean carmaker plans to improve the manufacturing volume, produce powertrains, launch new models and release electric vehicles in India by investing an amount of Rs 7000 crore in Chennai facility. Hyundai has committed that the production capacity of Chennai Plant would be increased by 100,000 units per annum that include 50,000 units via CKD format and other 50,000 units via CBU format. Tremendous career opportunities will be generated accordingly. It is claimed to create more than 700 new jobs at Hyundai for the Indian jobseekers after the expansion.

This investment plan will create enormous job opportunities at Hyundai for the Indians

With a relatively huge quantity of money to be invested, Hyundai also intends to release more than 10 new models within 2025 including a soon-to-be-launched electric vehicle in India in 2019. This decision has been made on Monday after the Managing Director and Chief Executive Officer of Hyundai Motor India Ltd, Y K Koo and N Ramesh, Assistant Vice-President of Hyundai had a brief discussion with Chief Minister Edapaddi K Palaniswami at the Secretariat.

Hyundai projects to utilise green mobility solution for its prospective vehicles

On seeking more incentives from the Indian Government, Hyundai schedules to sign the Memorandum of Understanding (MoU) with Tamil Nadu authority during the 2nd Global Investors Meet (GIM) from January of 2023-2024. BC Datta, the Vice-President of The Corporate Affairs of Hyundai revealed that the automotive company aims to focus on manufacturing electric cars to achieve zero emission levels and resort to green mobility solution by 2030.

“We are seeking power, water and infrastructure to be provided by the State. We are also seeking improvements in the road and rail network. We have been requesting for Tiruvallur and Singaperumal rail link. This has been only on paper”, said Datta.

At present, the celebrated South Korean auto manufacturer has exported its vehicles to 87 worldwide countries, including Latin America, Australia, Africa, the Middle East and the Asia Pacific in which Hyundai Motor India currently retails 9 models across the country.

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