Hyundai Motor India to invest $1.16 billion to expand capacity at Pune city plant
The plant will raise annual capacity to 320,000 vehicles by 2030 and produce the Hyundai Venue for exports to more than 35 countries.
- On Wednesday, Hyundai Motor India inaugurated a new smart manufacturing plant in Talegaon, Pune, Maharashtra, marking 30 years of operations in India and strengthening the group's role in its global production and export network.
- Following a meeting with Indian Prime Minister Narendra Modi in New Delhi on Tuesday, Hyundai Motor Group Executive Chair Chung Euisun announced a $15.5 billion investment plan, positioning India as a key growth market.
- Hyundai plans to invest $1.3 billion in the Pune facility, Managing Director and CEO Tarun Garg said, increasing annual production capacity from 170,000 to 320,000 units by 2030 using AI-powered operations.
- The Pune plant will produce the Hyundai Venue for global markets, with exports expected to reach more than 35 countries, coinciding with the automaker's cumulative passenger vehicle exports in India reaching 4 million.
- Beyond manufacturing, the group will allocate about $700 million to expand its Indian R&D center, including a vehicle testing track, to accelerate next-generation automotive development and strengthen local engineering capabilities.
20 Articles
20 Articles
Hyundai launches Pune plant, to invest another Rs 11,000 crore by 2030 to ramp up manufacturing
With the South Korean carmaker falling behind in the Indian market recently, the group’s investment commitment in the market, and the new Pune plant, may play a key role in its revival.
Hyundai Motor India to invest $1.16 billion to expand capacity at Pune city plant
Oct 14 : Hyundai Motor India plans to invest 110 billion rupees ($1.16 billion) in its Pune city plant to scale up the facility's annual production capacity by nearly 90 per cent by 2030, the automaker said on Wednesday. The move comes a day after parent Hyundai Motor Group said it would invest $15.5 billion
Hyundai Motor Completes Pune Plant in India… Establishes Annual Production System of 1 Million Units
Hyundai Motor opened its third local production base, the Pune Plant, marking 30 years of its presence in India. With cumulative sales in India on the verge of surpassing 10 million units, Hyundai plans to leverage the Pune Plant to increase its local production capacity to nearly 1 million units per year and expand India into a hub for exports to emerging markets. On the 14th, Hyundai Motor...
Coverage Details
Bias Distribution
- 45% of the sources lean Left, 44% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
