Hyundai To Invest Rs. 20,000 Crore In Tamil Nadu, Upgrade Plant For EVs

After MG MG Motor India charted out its plans for EV expansion, now its Hyundai Motor India Limited with its large-scale long-term investment plans in the state of Tamil Nadu. The company will make an investment of Rs. 20,000 crore in a phased manner till 2032. Hyundai will set up a state-of-the-art battery pack assembly unit with an annual capacity to assemble 1.78 lakh units of batteries. Further, the company will also install 100 EV charging stations at key locations in major highways, over a period of 5 years.

Unsoo Kim, MD & CEO, Hyundai Motor India Ltd., said “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.”

Hyundai India aims to be a strategic partner to Tamil Nadu’s government vision of building a sustainable ecosystem for the state’s transition towards electric mobility. The new charging station ecosystem will include 5 dual ultra-fast charging stations (DC 150 KW +DC 60 KW), 10 single fast charging stations (DC 150 KW), and 85 single fast charging stations (DC 60 KW).

Hyundai has also announced its plan to further increase the total production volumes to 8.50 lakh units per year and introduce new electric & ICE vehicles from its factory here in Sriperumbudur.