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Hyundai Motor India Limited (HMIL) said on Wednesday that it will invest ₹11,000 crore in phases at its manufacturing plant in Talegaon, Pune, to expand production capacity and strengthen its manufacturing operations in India.
The facility was formally inaugurated on Wednesday by Maharashtra Chief Minister Devendra Fadnavis. South Korean Ambassador to India Lee Seong-ho, Deputy Chief Minister Sunetra Ajit Pawar, Hyundai Motor Group Executive Chair Euisun Chung and other senior executives attended the event.
Hyundai plans to expand Pune plant capacity to 3.2 lakh vehicles
The Talegaon plant currently has an annual production capacity of 1.7 lakh vehicles. Hyundai plans to increase this to 3.2 lakh units by 2030.
Along with its Chennai operations, the expansion is expected to take the company's total annual manufacturing capacity in India to nearly 11.4 lakh vehicles by 2030.
The plant uses advanced manufacturing technologies, including artificial intelligence-enabled production systems, digital processes and modern quality management systems. Its production lines can accommodate multiple models, including petrol and diesel vehicles, as well as hybrid vehicles in the future.
The facility also has an engine manufacturing unit with an annual capacity of 1.5 lakh engines.
Hyundai crosses 4 million vehicle exports from India
The inauguration coincided with Hyundai achieving cumulative exports of 4 million passenger vehicles from India since 1999.
The company said it is India's largest cumulative exporter of passenger vehicles and the first automaker in the country to reach the 4-million export milestone. It has also sold nearly 10 million passenger vehicles in the domestic market.
Hyundai said 55 supplier partners operating in Pune have invested nearly ₹4,600 crore in Maharashtra. The supplier network, including Tier-I and Tier-II vendors, has generated more than 18,000 jobs in the state.
Nearly half of the company's supplier sourcing network is located within 50 km of the plant, helping keep suppliers close to its manufacturing operations.
The company is also working with seven academic institutions across India on nearly 40 research projects covering battery technology, vehicle electrification and future mobility.
The inauguration comes as Hyundai marks 30 years of operations in India.
Shares of Hyundai Motor India closed 0.04% higher at ₹1,965.60 on October 14, gaining ₹0.70 from the previous close.
Also read: HDB Financial Services Q2 profit rises 34% as income grows, NPAs fall; dividend declared
The facility was formally inaugurated on Wednesday by Maharashtra Chief Minister Devendra Fadnavis. South Korean Ambassador to India Lee Seong-ho, Deputy Chief Minister Sunetra Ajit Pawar, Hyundai Motor Group Executive Chair Euisun Chung and other senior executives attended the event.
Hyundai plans to expand Pune plant capacity to 3.2 lakh vehicles
The Talegaon plant currently has an annual production capacity of 1.7 lakh vehicles. Hyundai plans to increase this to 3.2 lakh units by 2030.
Along with its Chennai operations, the expansion is expected to take the company's total annual manufacturing capacity in India to nearly 11.4 lakh vehicles by 2030.
The plant uses advanced manufacturing technologies, including artificial intelligence-enabled production systems, digital processes and modern quality management systems. Its production lines can accommodate multiple models, including petrol and diesel vehicles, as well as hybrid vehicles in the future.
The facility also has an engine manufacturing unit with an annual capacity of 1.5 lakh engines.
Hyundai crosses 4 million vehicle exports from India
The inauguration coincided with Hyundai achieving cumulative exports of 4 million passenger vehicles from India since 1999.
The company said it is India's largest cumulative exporter of passenger vehicles and the first automaker in the country to reach the 4-million export milestone. It has also sold nearly 10 million passenger vehicles in the domestic market.
Hyundai said 55 supplier partners operating in Pune have invested nearly ₹4,600 crore in Maharashtra. The supplier network, including Tier-I and Tier-II vendors, has generated more than 18,000 jobs in the state.
Nearly half of the company's supplier sourcing network is located within 50 km of the plant, helping keep suppliers close to its manufacturing operations.
The company is also working with seven academic institutions across India on nearly 40 research projects covering battery technology, vehicle electrification and future mobility.
The inauguration comes as Hyundai marks 30 years of operations in India.
Shares of Hyundai Motor India closed 0.04% higher at ₹1,965.60 on October 14, gaining ₹0.70 from the previous close.
Also read: HDB Financial Services Q2 profit rises 34% as income grows, NPAs fall; dividend declared
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