Korean automobile major Hyundai Motor India Limited has announced that it will invest ₹20,000 crore over the next 10 years in Tamil Nadu to modernise vehicle platforms and expand its presence in the electric vehicle space.
An MoU was exchanged between Unsoo Kim, MD and CEO of Hyundai Motor India Limited, and V. Vishnu, MD and CEO of Guidance Tamil Nadu, in the presence of Chief Minister M.K. Stalin, Minister for Industries, Investment Promotion and Commerce T.R.B. Rajaa, Minister for Finance and Human Resource Management Thangam Thennarasu and senior government officials.
Noting that Hyundai was one of the largest manufacturers and consistent investors in Tamil Nadu, Mr. Kim said, “As part of our long-term vision, we have finalised 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.”
