Hyundai to invest Rs 7,000 crore in Maharashtra

Hyundai is revamping its recently acquired factory, formerly owned by General Motors, located in Talegaon, near Pune.

Hyundai is keen to expand its manufacturing operations in India. The carmaker recently acquired General Motors' factory located in Talegaon, near Pune, and plans to revamp it with an investment of Rs 7,000 crore.

Hyundai will sign a memorandum of understanding (MoU) with the Government of Maharashtra on the sidelines of the World Economic Forum in Davos, Switzerland. 

Devendra Fadnavis, Deputy Chief Minister of Maharashtra, confirmed this in a post on X (formerly Twitter) - “It was a great pleasure to meet Mr Kim Unsoo, MD and CEO of Hyundai Motor India along with Executive Director J.W Ryu and HMI senior officials. They appraised me of Hyundai’s Rs 7,000 crore investment in Pune’s Talegaon. They also sought advice and assistance on various aspects and I assured them on behalf of our government of full support to ensure smooth implementation.”

“They are visiting Davos later next week to sign a MoU (memorandum of understanding) with the Government of Maharashtra. We are absolutely delighted and welcome Hyundai in creating a world-class modern automobile manufacturing facility in Maharashtra,” he added.

Source: ET Auto