On Monday, Hyundai Motor India Ltd. announced that it would invest Rs. 6,180 crore in a number of projects, one of which is the creation of a hydrogen resource center in Tamil Nadu. The manufacturer has decided to invest an additional Rs 20,000 crore over a ten-year period (2023-2032) to strengthen its efforts in the areas of electric vehicle manufacturing, charging infrastructure, and skill development.
During the Tamil Nadu Global Investors Meet in 2024, the firm and the state government signed a Memorandum of Understanding discussing the new investment. Hyundai Motor India MD & CEO Unsoo Kim stated in a statement, "This significant investment of Rs 6,180 crore is a testament to our enduring commitment to fortifying the state's pursuit to boost the socio-economic development in the state and make the country self-reliant."
He continued, "This partnership with the state government is more than just an investment; it is a driving force behind building a strong hydrogen technology ecosystem that reflects the company's dedication to sustainability and an environmentally friendly future."
During the Tamil Nadu Global Investors Meet in 2024, the firm and the state government signed a Memorandum of Understanding discussing the new investment. Hyundai Motor India MD & CEO Unsoo Kim stated in a statement, "This significant investment of Rs 6,180 crore is a testament to our enduring commitment to fortifying the state's pursuit to boost the socio-economic development in the state and make the country self-reliant."
He continued, "This partnership with the state government is more than just an investment; it is a driving force behind building a strong hydrogen technology ecosystem that reflects the company's dedication to sustainability and an environmentally friendly future." Tamil Nadu is home to Hyundai Motor India's manufacturing facility. Every year, more than 8 lakh pieces are produced at the manufacturing facility close to Chennai.
