Hyundai Motor to take a position ₹20,000 crore in Tamil Nadu: Particulars inside

Hyundai Motor India has introduced to take a position 20,000 crore in a phased method over the interval of 10 years in Tamil Nadu. The funding is aimed to make additional inroads into electrical automobiles and modernization of the corporate’s automobile platform.

Underneath the partnership, Hyundai Motor India (HMI) will arrange a state-of-the-art battery pack meeting unit with annual capability to assemble 1,78,000 models of batteries. The corporate can even set up 100 EV Charging Stations at key areas in main highways, over a interval of 5 years. This can embody 5 Twin Extremely-Quick Charging Stations (DC 150 KW +DC 60 KW), 10 Single Quick Charging Stations (DC 150 KW) and 85 Single Quick Charging Stations (DC 60 KW).

The auto producer has exchanged a memorandum of understanding (MoU) with the Tamil nadu authorities. With the partnership, Hyundai Motors goals to be a strategic accomplice to Tamil Nadu’s authorities imaginative and prescient in constructing a sustainable ecosystem for the state’s transition in direction of electrical mobility. 

Talking on the announcement, Unsoo Kim, MD & CEO, Hyundai Motor India Ltd., mentioned “Hyundai has been one of many largest producers and constant buyers in Tamil Nadu. This strategic partnership is an affidavit to Hyundai’s dedication to spice up the socio-economic growth within the State and make the nation self-reliant. As a part of our long-term imaginative and prescient, we’ve finalized plans to develop and set up Tamil Nadu as a base for Hyundai’s EV Manufacturing in India. This can assist us to strengthen our portfolio and supply best-in-class options and applied sciences in our automobiles which is able to exceed our buyer aspirations.”

HMI has additionally introduced its plan to additional improve the full manufacturing volumes to eight 50 000 models / 12 months and introduce new Electrical & ICE automobiles from its manufacturing facility right here in Sriperumbudur. As part of Hyundai Motor Group’s long-term strategic imaginative and prescient to advertise clear vitality, Hyundai will proceed to discover future sustainable applied sciences within the coming years.

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