Hyundai makes Rs 20K cr investment in TN to develop EV ecosystem

Hyundai Motor India (HMI) commits Rs 20,000 crore as long term investment in the State for developing a sustainable Electric Vehicle ecosystem. HMI to invest Rs 20,000 crore over a period of 10 years (2023-2032) and plans to increase production volumes and introduce new Electric Vehicle models. On May 11, A Memorandum of Understanding (MoU) exchanged between Unsoo Kim, MD & CEO, Hyundai Motor India Limited and V Vishnu, MD & CEO, Guidance Tamil Nadu in the presence of Chief Minister MK Stalin, Finance minister Thangam Thennarasu and Industries Minister TRB Rajaa.