HomeCar NewsAccelerating Change: Hyundai Motor India's 10-Year Investment Plan for Electric Vehicles

Accelerating Change: Hyundai Motor India’s 10-Year Investment Plan for Electric Vehicles

Hyundai Ioniq 5 first delivery of India
Hyundai Ioniq 5 first delivery of India

Hyundai Motor India’s Long-term Investment in Tamil Nadu – EV Ecosystem, Battery Plant, Production Increase

Hyundai Motor India (HMI) has announced a significant commitment towards a long-term investment in Tamil Nadu. This is aimed at developing a robust electric vehicle (EV) ecosystem. With a vision to contribute to sustainable mobility and embrace the global shift towards electric vehicles, HMI has earmarked a staggering Rs 20,000 Crore investment over the next 10 years, from 2023 to 2032. This strategic move showcases HMI’s commitment to India’s transition to a cleaner and greener future.

The automotive industry is undergoing a transformative phase, with electric vehicles emerging as a key driver of the future. Recognizing the immense potential and favourable conditions in Tamil Nadu, Hyundai Motor India continues to accelerate the transition towards carbon-neutral manufacturing and EVs in the state. This investment not only demonstrates Hyundai’s commitment to the Indian market but also positions Tamil Nadu as the preferred manufacturing and EV hub in the country.

Hyundai Motor India and Tamil Nadu – Long term Partnership, Investment Plans

Hyundai Motor India’s investment plans are comprehensive and far-reaching. The company aims to leverage this substantial capital infusion to increase production volumes and introduce a wide range of new electric and internal combustion engine (ICE) vehicles. By doing so, HMI seeks to cater to the growing demand for clean and sustainable mobility solutions in India.

The continued partnership between Hyundai Motor India and the state is formalized through a Memorandum of Understanding (MoU) with Guidance Tamil Nadu, a nodal agency for industrial development in the state. This collaboration solidifies the commitment of both parties to drive the growth of the EV ecosystem and foster technological advancements in the automotive sector.

Battery Pack assembly plant, Charging Infrastructure

Hyundai Motor India’s investment plans in Tamil Nadu encompass a wide range of initiatives aimed at modernizing the vehicle platform and infrastructure. The company envisions implementing its investment in a phased manner over the next 10 years, ensuring sustainable and impactful growth. A primary focus of the investment is the establishment of a state-of-the-art battery pack assembly unit. This facility will have an annual capacity to assemble 1,78,000 units of batteries.

Recognizing the critical need for a robust charging infrastructure to support the widespread adoption of electric vehicles, Hyundai Motor India plans to set up 100 charging stations across Tamil Nadu over the next 5 years. The count for Dual Ultra-Fast Charging Stations (DC 150 KW + DC 60 KW) is pegged at 5 units. 10 Single Fast Charging Stations (DC 150 KW) will be set up. The majority of Single Fast Charging Stations (DC 60 KW) amounts to 85 units. This extensive network of charging stations will enable EV owners to conveniently charge their vehicles and alleviate range anxiety.

Hyundai Production Volume Expansion, Future Sustainable Technologies

To meet the growing demand for electric and internal combustion engine vehicles, Hyundai Motor India aims to increase its total production volumes to 8,50,000 units per year. This expansion will be realized through the introduction of new Electric & ICE vehicles from the existing Sriperumbudurn plant in Tamil Nadu. By leveraging their expertise and advanced manufacturing capabilities, Hyundai is poised to play a significant role in continuing to shape the future of mobility in India.

In addition to their immediate investment plans, Hyundai Motor India is committed to exploring and adopting future sustainable technologies. With rapid advancements taking place in the automotive industry, Hyundai recognizes the importance of staying at the forefront of innovation. By actively investing in research and development, Hyundai aims to introduce cutting-edge technologies that not only enhance the performance and efficiency of their vehicles but also contribute to a greener and more sustainable future.

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