Hyundai to invest Rs 20,000 crore in Tamil Nadu over 10 years

Hyundai Motor India, the second largest car manufacturer in the country, on Thursday pledged to invest Rs 20,000 crore over a period of 10 years in Tamil Nadu to roll out new electric vehicle (EV) models and increase production volume from its Irungattukottai plant besides setting up a battery packing assembly unit and charging stations.

A Memorandum of Understanding for the investment was signed on Thursday between Unsoo Kim, MD & CEO, Hyundai India and V Vishnu, MD & CEO, Guidance Tamil Nadu in the presence of Chief Minister M K Stalin.