Hyundai India announces ₹6,000 crore expansion in Tamil Nadu investment

Puneet Anand highlighted the decision to increase the investment, stating, "Just a year back in 2022, we had actually announced the investment of ₹20,000 crore over a period of 10 years.

But when we look at the state of Tamil Nadu and we look at the productivity and also the future thought of the honorable Chief Minister and also of the government, we feel that there is a huge more potential, and that's why today on the sidelines of Tamil Nadu Global Investor Meet we announced additional ₹6,000 crore investment over and above that ₹20,000 crore, which we invested last year.”

The funds will be allocated towards a diverse range of initiatives, including the expansion of existing product lines, the establishment of a new electric vehicle (EV) setup, the development of new plants and machinery, and the upgrading of existing products and powertrains. Hyundai also plans to introduce both internal combustion engine (ICE) and EV products as part of their future lineup.

Anand teased the anticipation of a groundbreaking EV set to roll off the production line in Tamil Nadu, stating, “Be ready for a new spectacular EV, which will be coming from Hyundai, and it will be coming from Tamil Nadu only.”

Hyundai's commitment to sustainable practices and cutting-edge technology reflects a broader industry trend towards environmentally conscious manufacturing. This significant investment underscores Hyundai's confidence in the potential for growth in the Indian automotive market and its dedication to contributing to the state of Tamil Nadu's economic development.