Hyundai completes GM’s Talegaon plant acquisition, to invest ₹6,000 crore

Commenting on the acquisition Un Soo Kim, MD & CEO – Hyundai Motor India Ltd. said, “India is a very important market for Hyundai Motor Company, and we are committed to provide benchmark-creating products & technologies to Indian customers. As we look forward to the next decade of progress for Hyundai Motor India, we must augment our manufacturing capacity in India. The Talegaon manufacturing plant will play the role of a catalyst in achieving HMIL’s 1 million annual production capacity milestone. The acquisition of the Talegaon plant reinforces our commitment to ‘Atmanirbhar Bharat’ (Self-Reliant India), by making India a hub for advanced smart mobility solutions, Make-In-India for the world. Our manufacturing operations are scheduled to begin in Talegaon, Maharashtra in the year 2025.”

Also Read : Hyundai acquires GM’s Talegaon plant, aims to produce 10 lakh cars annually.

The Talegaon plant currently has a production capacity of 130,000 units per annum, which Hyundai plans to expand by upgrading the existing infrastructure and manufacturing equipment. The company says these investments are aimed at bringing the facility up to Hyundai’s global operating and manufacturing standards. With its Tamil Nadu facilities running at peak production capacity, the new facility will further increase the brand’s manufacturing capacity in India with the automaker’s aim to produce a cumulative one million units per annum from all three plants.

First Published Date: 19 Jan 2024, 11:51 AM IST