Hyundai India commits huge investment for EV future
Hyundai India EV investment – the carmaker has committed an investment of Rs. 20,000 crores in Tamil Nadu over the next 10 years.
The investment aims to bolster the development of a sustainable electric vehicle (EV) ecosystem, increase production volumes and introduce new vehicles in the Indian market.
Mr. Unsoo Kim, MD & CEO of Hyundai Motor India Ltd., emphasised Hyundai’s status as one of the largest manufacturers and investors in Tamil Nadu. He stated that the partnership would help establish Tamil Nadu as Hyundai’s EV manufacturing base in India.
Hyundai aims to be a strategic partner in Tamil Nadu’s transition towards electric mobility and sustainability. The company plans to set up a battery pack assembly unit capable of assembling 1,78,000 battery units annually.
Additionally, Hyundai will install 100 EV charging stations across major highways in the state over the next 5 years. This charging network will include 5 Dual Ultra-Fast Charging Stations (DC 150 KW +DC 60 KW), 10 Single Fast Charging Stations (DC 150 KW) and 85 Single Fast Charging Stations (DC 60 KW).
In line with its long-term vision, Hyundai will ramp up its total production volume to 8,50,000 units per year to meet the growing demand for both Electric and Internal Combustion Engine (ICE) vehicles.
