Hyundai Eyes Expansion in India with Investment Worth INR 20,000 Cr in Tamil Nadu

Hyundai Eyes Expansion in India with Investment Worth INR 20,000 Cr in Tamil Nadu

Korean automaker Hyundai Motor is intent on augment its Electric Vehicle (EV) market in India. The firm has said that it is looking to make an investment worth Rs 20,000 Cr for the upgradation of its facilities in Tamil Nadu. The investment will take place in a phased manner. Additionally, it has revealed that it will also be establishing an EV battery pack assembly unit in the southern state.

The firm has announced that it will also be installing a hundred EV charging stations across Tamil Nadu. This ambition is to be achieved in the span of the next five years. The EV charging stations will be established on major highways and include five Dual Ultra-Fast Charging Stations (DC 150 KW +DC 60 KW), ten Single Fast Charging Stations (DC 150 KW) and 85 Single Fast Charging Stations (DC 60 KW).

The firm has set sights on giving a push to the local manufacturing electric vehicles in Tamil Nadu, which is a nerve centre for EV manufacturing. In a series of announcements made by the Korean giant, Hyundai said that has set itself a goal to produce 1.78 lakh battery units on an annual basis.

Unsoo Kim, MD & CEO, Hyundai Motor India Ltd., said about the announcement, “Hyundai has been one of the largest manufacturers and consistent investors in Tamil Nadu. This strategic partnership is a testimony to Hyundai’s commitment to boost the socio-economic development in the State and make the country self-reliant. As part of our long-term vision, we have finalized plans to develop and establish Tamil Nadu as a base for Hyundai’s EV Manufacturing in India. This will help us to strengthen our portfolio and provide best-in-class features and technologies in our vehicles which will exceed our customer aspirations.”

Presently, Hyundai Motor’s primary facility for manufacturing is located in Sriperumbudur, where it plans to add new electric vehicles.

Back in February, Hyundai and ChargeZone mounted two DC ultra-fast EV charging stations on two different highways of Hyderabad-Vijayawada and Delhi-Chandigarh.