One of the leading players, Hyundai has geared up itself for the development of EV culture in India. Now, the brand has announced its expansion plans which include more launches and comprehensive updates of existing models.
In order to implement the plans, Hyundai has announced its Rs. 20,000 crore investment in the Indian market. The manufacturer will continue to manufacture its cars in the Tamil Nadu plant.
About the 10-year strategy of Hyundai
Recently, at an event, Hyundai signed an MoU in the presence of the brand’s managing director, Mr Unsoo Kim. Moreover, this event also embarked on the presence of Thiru M K Stalin, Hon’ble Chief Minister of Tamil Nadu, and other senior officials.
To achieve this development, Hyundai will construct a battery pack assembly unit with an annual capacity of 17,800 units. Additionally, the manufacturer will also establish 100 EV Charging Stations at key locations on major highways within the next 5 years. The list of new charging stations includes 5 Dual Ultra-Fast Charging Stations (DC 150kW + DC 60kW), 10 Single Fast Charging Stations (DC 150kW), and 85 Single Fast Charging Stations (DC 60kW).
Hyundai to increase production capacity
As a part of the growth and development strategy, Hyundai will expand the total production capacity in its Sriperumbudur plant. The production volume will spike up to 8 50 000 units per year and introduce new Electric & ICE vehicles. This strategy of Hyundai is aimed towards a green and sustainable future. Furthermore, the brand will also introduce new sustainable technologies for a green and bright future.
Official Statement
Speaking on the announcement, Mr. Unsoo Kim, MD & CEO, of 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.”