- Part of Hyundai’s plans to develop an EV ecosystem
- To invest Rs. 20,000 crore over 10 years
Hyundai India has announced its commitment to invest Rs. 20,000 crore in Tamil Nadu in order to develop a sustainable EV ecosystem. Furthermore, the company has signed an MoU with the government of Tamil Nadu, where the aforesaid amount will be invested over a period of 10 years in a phased manner.
Hyundai aims to be a strategic partner to Tamil Nadu’s government vision of building a sustainable ecosystem for the state’s transition towards electric mobility. In line with this, the brand will set up a battery pack assembly unit with an annual capacity of 1.78 lakh batteries.
At the same time, Hyundai India will install 100 EV charging stations at key locations in major highways, over a period of five years. This will include five dual ultra-fast charging stations (DC 150 kW + DC 60 kW), 10 single fast charging stations (DC 150 kW), and 85 single fast charging stations (DC 60 kW).
Further, Hyundai plans to increase the total production volume to 8.50 lakh units per year and introduce new electric and ICE vehicles from its factory located in Sriperumbudur. Additionally, it will continue to explore future sustainable technologies in the coming years.