NEW DELHI: Hyundai Motor India (HMIL) has completed acquisition and assignment of identified assets at General Motors India’s Talegaon plant in Maharashtra.
The South Korean carmaker commits to invest Rs 6,000 crore in the state of Maharashtra. “The acquisition has been completed post fulfilment of certain conditions and receipt of regulatory approvals from relevant government authorities and relevant stakeholders,” HMIL said in a statement.
A MoU has been signed between Hyundai Motor India and Government of Maharashtra in the presence of Uday Samant, Hon’ble Minister of Industries, Government of Maharashtra and Un Soo Kim, MD & CEO, Hyundai Motor India, in Davos on January 18th, 2024.
Un Soo Kim, MD & CEO, Hyundai Motor India, said, “India is a important market for Hyundai, and we are committed to provide benchmark creating products & technologies to Indian customers. As we look forward to next decade of progress for Hyundai Motor India, it is critical for us to augment manufacturing capacity in India. Talegaon plant will play role of a catalyst in achieving HMIL’s 1 million annual production capacity milestone.”