Hyundai Motor India Limited, a 100% subsidiary of Hyundai Motor Company Korea, today announced an investment of USD 300 million in a world class flexible engine plant and a new press shop, apart from ongoing investments in new models. The Press and Engine shop will come up at the existing location at Sriperumbudur in Chennai. The company is all set to sign a memorandum of understanding (MoU) with the Government of Tamil Nadu on 5th November 2012.
This investment will offer customers more diesel options across segments in the near future and create direct employment opportunity for 500 persons apart from significant indirect employment oppurtunities.
Mr. Bo Shin Seo, Managing Director, Hyundai Motor India Limited said “Through this investment we strengthen our commitment to the state and the country. This investment will help us meet the growing demand of diesel vehicles in India and reduce the waiting period”
The proposed engine plant and other facilities will be set up within the premises of HMIL at Irungattukkottai in Chennai.
– Press Release