An Investment Of Rs 20,000 crore From Hyundai Is Heading Towards Tamil Nadu For Expanding Production And Development Of EVs

• Hyundai will take 10 years to invest this amount from 2023 to 2032.

• In the same time period, it will set up its battery assembly plant.

• Hyundai will also ramp up its production to 8.5 lakh units per year.

• 100 fast charging stations will also be installed in Tamil Nadu by the carmaker.

A total sum of Rs 20,000 crore will be invested in Tamil Nadu by Hyundai as the carmaker has revealed its 10-year long-term investment plan for India. For this investment, an MoU was exchanged between the top officials of Hyundai Motor India Limited (HMIL) and the Government of Tamil Nadu in the Presence of Thiru M K Stalin, Chief MInister of Tamil Nadu. This amount will be invested in a phased manner over the years and here is what the carmaker will use it for:

Firstly, the Korean marque will be using this money to bring more electric vehicles to the market. We had already reported that the Korean carmaker is planning to bring six EVs to India by 2028. Hyundai will set up a dedicated battery pack assembly area in Tamil Nadu which will have the capacity to assemble 1.78 lakh battery packs each year. Also, Hyundai has  decided to use Tamil Nadu as a base of its EV operations.

This investment is not just for EVs as Hyundai plans to use this to increase its annual production capacity of its current lineup including ICE and electric cars as well. As per the carmaker, its production capacity will be bumped up to 8.5 lakh units per year from its Sriperumbudur facility in Tamil Nadu. This facility will also be used to introduce new electric and internal combustion engine (ICE) models as well as for modernisation of its existing platforms.

Since Hyundai has decided to use Tamil Nadu for its EV operations, it needs to work on making the state more adaptable to electric vehicles. To do this, Hyundai will install a total of 100 fast-charging stations in the state which will comprise of five dual fast-charging stations with 150kW and 60kW DC chargers, 10 single fast-charging stations with 150kW DC chargers and 85 single charging stations with 60kW DC chargers.

Also Read: Facelifted 2023 Hyundai i20 Breaks Cover: 5 Things You Need To Know

Hyundai has also plans to work on cleaner sources of energy and will continue to experiment with sustainable energy technologies in the coming years. Coming up next from the Korean marque is the Tata Punch-rivalling Exter SUV, which has been revealed in images and is slated for a global unveiling soon. You can check out more about the Hyundai Exter here.