Hyundai to invest Rs 20,000 crore to Tamil Nadu's EV development
ECONOMY & POLICY

Hyundai to invest Rs 20,000 crore to Tamil Nadu's EV development

In order to grow its electric vehicle (EV) ecosystem, Hyundai Motor India Limited (HMIL) has announced fresh long-term investment plans in the state of Tamil Nadu. According to a statement issued by the firm, it will invest Rs 200 billion gradually over a ten-year period (2023–2022) to further advance the development of electric vehicles and modernize vehicle platforms.

In the presence of M K Stalin, Hon'ble Chief Minister of Tamil Nadu, Thangam Thennarasu, Minister for Finance, T. R. B. Rajaa, Minister for Industries, Investment Promotion and Commerce, Krishnan S, I.A.S., Additional Chief Secretary, Industries, Investment Promotion and Commerce, Government of Tamil Nadu, and other individuals, Unsoo Kim, MD & CEO, Hyundai Motor India Limited, and V Vishnu, I.A.S., MD

Hyundai will implement the idea by constructing a cutting-edge battery pack assembly facility with a yearly capacity to build 1,78,000 batteries. Additionally, during a five-year period, the business intends to add 100 EV charging stations at strategic sites along major roadways. There will be 85 Single Fast Charging Stations (DC 60 KW), 10 Single Fast Charging Stations (DC 150 KW), and five Dual Ultra-Fast Charging Stations (DC 150 KW + DC 60 KW).

See also:
Auto component industry gears up for big shift to EVs
Pact inked between Hyundai, SK On for EV battery partnership


In order to grow its electric vehicle (EV) ecosystem, Hyundai Motor India Limited (HMIL) has announced fresh long-term investment plans in the state of Tamil Nadu. According to a statement issued by the firm, it will invest Rs 200 billion gradually over a ten-year period (2023–2022) to further advance the development of electric vehicles and modernize vehicle platforms. In the presence of M K Stalin, Hon'ble Chief Minister of Tamil Nadu, Thangam Thennarasu, Minister for Finance, T. R. B. Rajaa, Minister for Industries, Investment Promotion and Commerce, Krishnan S, I.A.S., Additional Chief Secretary, Industries, Investment Promotion and Commerce, Government of Tamil Nadu, and other individuals, Unsoo Kim, MD & CEO, Hyundai Motor India Limited, and V Vishnu, I.A.S., MD Hyundai will implement the idea by constructing a cutting-edge battery pack assembly facility with a yearly capacity to build 1,78,000 batteries. Additionally, during a five-year period, the business intends to add 100 EV charging stations at strategic sites along major roadways. There will be 85 Single Fast Charging Stations (DC 60 KW), 10 Single Fast Charging Stations (DC 150 KW), and five Dual Ultra-Fast Charging Stations (DC 150 KW + DC 60 KW). See also: Auto component industry gears up for big shift to EVsPact inked between Hyundai, SK On for EV battery partnership

Next Story
Infrastructure Urban

Afcons shares gain momentum with Bhopal Metro Line 2 project

Afcons Infrastructure made a quiet debut on the stock market on Monday but quickly gained momentum after emerging as the lowest bidder for the Bhopal metro project line 2 package.The Bhopal Metro Phase 1 project’s 12.915 km Blue Line (Line-2) will link Bhadbhada Chauraha and Ratnagiri Tiraha, spanning 13 elevated stations. This package, issued by the Madhya Pradesh Metro Rail Corporation (MPMRCL), involves constructing all 13 stations of the Blue Line’s viaduct. The depot will also be shared with the Orange Line (Karond Circle to AIIMS) for maintenance and stabling purposes.Afcons’ exten..

Next Story
Infrastructure Transport

Locals urge CM to opt for road bypass over flyover at Dandeavaddo

Chinchinim villagers respectfully requested Pramod Sawant, Chief Minister, to instruct the Public Works Department (PWD) and the National Highway authorities to construct a road bypass instead of a flyover on the Dandeavaddo stretch of NH66. The villagers, led by Sarpanch Frank Viegas and Velim MLA Cruz Silva, also raised the long-standing issue of building the Chinchinim Panchayat Ghar and a multi-purpose project on panchayat land that was acquired more than 15 years ago. The delegation met the Chief Minister at the St. Sebastian Chapel junction in Chinchinim as he was returning home from a..

Next Story
Infrastructure Transport

MLA Yashpal Suvarna Announces Malpe-Udupi Highway Construction from Nov 6

MLA Yashpal Suvarna instructed officials to commence work on the Malpe-Udupi Highway on Wednesday. A meeting took place, attended by MP Kota Shrinivas Poojary, Udupi MLA Yashpal Suvarna, and Kaup MLA Suresh Shetty Gurme, to discuss the National Highway 169A project, which spans from Malpe to Udupi, covering areas like Hiriyadka, Parkala, and Perdur. The project had experienced delays due to incomplete land acquisition, but compensation notices have now been issued to the landowners. Of the 214 land acquisition files, 19 pertain to government land, while 195 involve private owners. Notices ha..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000