Hyundai to invest Rs 7,000 cr in TN; manufacture electric cars in Chennai
Automobile major Hyundai is planning to manufacture its electric car Kona in Chennai and will launch the same later this year.
Published: 24th January 2019 04:51 AM | Last Updated: 24th January 2019 04:51 AM | A+A A-
Image for representational purpose only (File | Reuters)
CHENNAI: Speaking on the sidelines of GIM, vice president of the company BC Datta said: “The car has been displayed at GIM. We have plans to launch it in the market in the second half of this calender year.” The company, ahead of GIM, signed an agreement with the State government to invest 7,000 crore in Tamil Nadu, mostly on expanding the current facility in Chennai.
“Money will be invested in strengthening and expanding our plant, mostly on creating a special line for the manufacture of our electric car Kona, apart from other projects,” Datta said. So far, Hyundai has invested 23,900 crore in Tamil Nadu – largest by any automobile company at a single location in India.
