Hyundai Motor Group Executive Chair Euisun Chung called on Chief Minister M.K. Stalin at the Secretariat here on Tuesday and discussed the ongoing and upcoming investments in Tamil Nadu.
After the meeting, Mr. Stalin, in a social media post, said: “The dialogue encompassed Hyundai’s ongoing and upcoming investments in our State, especially in the EV [electric vehicle] space, potential collaborations in R&D and advanced technologies.”
With a steadfast presence of over 25 years, Hyundai Motor has propelled remarkable manufacturing and export achievements, etching an indelible mark in Tamil Nadu’s automotive success story, the Chief Minister said, adding: “We will continue and expand this great partnership!”
Industries Minister T.R.B. Rajaa, in a social media post, said: “The future of auto is in EV. Hyundai and Tamil Nadu’s formidable partnership will contribute to making the State the EV capital of Asia.”
Mr. Chung provided insights into Hyundai’s mid-to-long-term business strategies, detailed its dedication to customised social contribution initiatives in Tamil Nadu and underscored its continuous efforts in India.
In May, Hyundai Motor Group and Tamil Nadu forged a memorandum of understanding, marking their commitment to invest ₹200 billion over the next decade to bolster the EV ecosystem and modernise production facilities.
In pursuit of building this ecosystem, the outlined plans encompass establishing an EV battery pack assembly plant, expanding EV lineup, and installing a hundred high-speed charging stations at key locations across the State.
President and CEO Jaehoon Chang; President and Chief Technology Officer Yong Wha Kim; and MD and CEO of Hyundai Motor India Unsoo Kim were present.
Chief Secretary Shiv Das Meena and senior officials were present during the meeting.
