June 14, 2024

  • Daily Motion

Hyundai Invests 7,000 Crore In India, Manufacturing Electric Cars

Hyundai In India

Hyundai to manufacture electric cars in India

In the development of Electric Vehicles in India, there have been a lot of innovations happening through the efforts of the company who are looking forward to making the country clean and green without CO2 emissions. With the use of electric vehicles, there will be less amount of emissions and less usage of fuel which is profitable in terms of finance.  Manufacturing Electric Cars, Hyundai Invests 7,000 Crore In India.

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Hyundai Investing 7,000 Crores In Sriperumpudur Near Chennai

The Hyundai well-established company in 1967 is the fifth-largest automaker since 2007. It’s the second-largest carmaker in India. It opened its second plant in India in February 2008. Currently, it is manufacturing electric cars making an investment of 7,000 crores in Sriperumpudur near to Chennai for expansion of production facility. The company will sign a MoU with the Tamil Nadu Government regarding its new investment.

State Offering New Incentive Packages To Major Investors

The State cabinet minister had approved the investment made by Hyundai Motors, the state offering new incentive packages to major investors as GST is introduced and state doesn’t handle Value Added Taxes VAT now.

Hyundai To Provide 1,500 Jobs In India

The Hyundai’s investment will give an opportunity for 1,500 job seekers, it plans to increase by 1 lakh per annum. The Hyundai EV plant for the Indian market will be announced at the 2020 Auto Expo.

Korean Automaker To Introduce All-Electric Hyundai Kona SUV

Meanwhile, the Korean automaker is all set to introduce in mid-2019 its all-electric Hyundai Kona SUV. Hyundai’s locally EV expected to be a compact SUV will take few more years. Maruti and Mahindra will be the first in EV race and Hyundai and Tata motors come next.

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