Tamil Nadu to Be Home to Hyundai’s EV Manufacturing Base, Company to Build High-Tech Battery Assembly Unit and Install 100 Charging Stations
Hyundai India has announced its investment plans for the next decade, with a focus on expanding its electric vehicle (EV) lineup in India.
The company will invest Rs 20,000 crore over ten years, starting this year, to update its existing car and SUV platforms and to establish Tamil Nadu as its EV manufacturing base in India.
The announcement was made in the presence of Unsoo Kim, managing director and CEO of Hyundai Motor India, and M K Stalin, the Chief Minister of Tamil Nadu.
As part of its investment plans, Hyundai will build a high-tech EV battery assembly unit with an annual capacity of 1,78,000 units and install 100 EV charging stations at key locations along major highways over the next five years.
The company plans to expand total production volumes to 8,50,000 units per year and introduce new electric and ICE vehicles from its Sriperumbudur factory.
Hyundai is also set to launch new vehicles in the Indian market, including the Exter micro SUV and a refreshed Creta, both of which are expected to hit the market in the coming months. The Creta EV is expected to go on sale in India by 2025.
Hyundai’s long-term vision is to promote clean energy and explore sustainable technologies for the future.