Hyundai India to invest Rs 7k cr in fourth phase

For its fourth phase of expansion, it envisages an investment of Rs 7,000 crore. This will take its total investment in TN to Rs 23,900 crore, said BC Datta, VP, Corporate Affairs, Hyundai. Lauding the technical manpower available in TN, he said the ‘Made in TN’ cars from Hyundai were exported to 88 countries. The Korean auto giant, which showcased its e-car Kona in this edition of GIM, also plans to manufacture it in Sriperumbudur. Datta said, from 60 per cent exports, the company now sells 70 per cent to the domestic market, owing to the demand pull. Hyundai also intends to expand its capacity from seven lakh cars to eight lakh.

On the EV focus, he said, the company is upbeat about it and it was able to offer its vehicle with a battery charge that would last for 350 km. Besides, the charging time is only an hour. According to him, it has the distinction of being the only company to have bagged the ICOTY (Indian Car of the Year) awards consecutively for three years. This, he said, reflects the quality of cars produced in TN.