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Hyundai Motor India Limited (HMIL) has announced its large-scale long-term investment plans in the Indian state of Tamil Nadu by investing INR 20,000 crores in a phased manner over the period of 10 years (2023 to 2032) for the development of electric vehicles and modernization of vehicle platforms.
HMI 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. In line with this, HMI will set up a state-of-the-art battery pack assembly unit with an annual capacity to assemble 1,78,000 units of batteries. Further, HMI will install 100 EV Charging Stations at key locations in major highways, over a period of 5 years. This 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).
HMI has also announced its plan to further increase the total production volumes to 8,50,000 units/year and introduce new Electric & ICE vehicles from its factory.
Speaking on the announcement, Unsoo Kim, MD & CEO, Hyundai Motor India Ltd., said “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 boosting the socio-economic development in the State and making 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.”
