Hyundai India To Build Battery Assembly Unit; Increase Production To 8.5 Lakh Vehicles By 2032
By Amaan Ahmed
3 mins read
11-May-23 05:08 PM IST
- Hyundai will invest Rs 20,000 crore in Tamil Nadu to make the state its EV production base.
- Battery assembly facility to have an annual production capacity of 1.78 lakh batteries.
- Korean marque to set up 100 charging stations across the state in the next 5 years.
With an eye on bolstering its electrification plans, Hyundai India has revealed it will invest Rs 20,000 crore in the state of Tamil Nadu over the next 10 years. A big part of this investment will be utilised in developing future vehicle platforms, establishing a battery pack assembly unit, as well as ramping up the Korean carmaker’s production capacity. A Memorandum of Understanding (MoU) was exchanged between Hyundai India MD and CEO Unsoo Kim and V Vishnu, I.A.S., MD & CEO, Guidance Tamil Nadu in the presence of Tamil Nadu CM M K Stalin and other senior government officials.
Hyundai India MD and CEO Unsoo Kim and V Vishnu, I.A.S., MD & CEO, Guidance Tamil Nadu exchanged a MoU in the presence of Tamil Nadu CM M K Stalin.
As part of its 10-year strategy, Hyundai will build a battery pack assembly unit, which will have the capacity to churn out 1.78 lakh batteries every year. Additionally, the company will set up 100 EV charging stations at key locations on major highways in the state over the next five years. Of the 100 stations, five will be ultra-fast charging stations with a 150 kW + 60 kW DC charger, ten will be fast charging stations with a single,150 kW DC charger and 85 of them will have a single, 60 kW DC charger.
Also on the cards for Hyundai is a further increase in production capacity. At present, Hyundai has a total annual capacity of 7.60 lakh vehicles, which it is in the process of ramping up to 8.20 lakh units by June 2023. A part of the investment will be directed towards further increasing annual production capacity to 8.50 lakh units. The carmaker intends to utilise the enhanced capacity for new electric vehicles, as well as new internal combustion engine vehicles.
The Ioniq 5 is one of six new Hyundai EVs coming to India by 2028.
Speaking on the announcement, Unsoo Kim, MD & CEO said, “Hyundai has been one of the largest manufacturers and consistent investors in Tamil Nadu. This strategic partnership is a testimony to Hyundai’s commitment to boost the socio-economic development in the State and make the country self-reliant. As part of our long-term vision, we have finalised plans to develop and establish Tamil Nadu as a base for Hyundai’s EV manufacturing in India. This will help us to strengthen our portfolio and provide best-in-class features and technologies in our vehicles which will exceed our customer aspirations.”
Hyundai has previously said it will launch a total of six battery-powered new vehicles in India by 2028, one of which has already arrived in the form of the Ioniq 5 crossover. At least two of the remaining five EVs are expected to be based on the Hyundai Group’s dedicated E-GMP architecture, while the other three could be based on a modified version of Hyundai’s ICE vehicle platforms. The company is understood to also be a testing an all-electric SUV based on the hugely popular Creta compact SUV, which could be lined up for a launch in the coming years.
Great Deals on Used CarsView All Used Cars
Popular Hyundai Models
-8087 second ago
The Spaniard will depart Repsol Honda after a 11-year partnership that delivered six MotoGP world titles between 2013 and 2023.
-7752 second ago
The facelifted Harrier appears to have a larger touchscreen and new digital instruments display.
-2682 second ago
The German luxury car manufacturer retailed a total of 5,530 units, marking an 88 per cent growth in sales
17 minutes ago
The teaser image shows the two mystery concepts alongside silhouettes of the EV9, EV6 and EV5.
1 hour ago
The Hyper Urban concept offers the potential for hardware updates, like having the interior refreshed with a new instrument panel
1 hour ago
This luxury SUV is offered in three variants, with ex-showroom prices ranging from Rs 91 lakh to Rs 1.08 crore
1 hour ago
The EM90 will be Volvo's third born-electric model after the EX90 and EX30 and the brand's first MPV.
2 hours ago
The AMT gearbox will be available as an option across all non-turbo variants of the Magnite.
3 hours ago
New suspension, updated brakes, tweaks to the engine, better accessibility and affordability are the focus areas of the 2024 Triumph Scrambler 1200 range.
4 hours ago
India accounted for 32.6 per cent of Suzuki Motor Corporation's cumulative global sales.
7 days ago
The 2017 Hyundai Verna Launch Date has been announced as 22 August 2017. Pre-bookings have now officially commenced at the automaker's dealerships across the country.
7 days ago
The new Hyundai Verna will re-enter the heavily competitive sedan segment as it prepares to take on the likes of Maruti Suzuki Ciaz, Honda City and Volkswagen Jetta.
7 days ago
2017 Hyundai Verna was recently spotted testing in India for the first time and as expected, it was completely camouflaged. Hyundai Verna will be launched in India later this year and rival the likes of Maruti Suzuki Ciaz, Honda City and the Volkswagen Vento.
8 days ago
Maruti Suzuki and Hyundai ended the year on a positive note, with Hyundai recording a record sales in a Calendar year
8 days ago
2017 Financial Year and if anything it has been quite an eventful year for the India auto sector. Right from the ban on diesel cars in Delhi to demonetization of Rs. 500 and Rs. 1000 notes, automakers in India have faced several challenges in this fiscal year. Despite that, many of them have seen consistent growth in the market and two of the country's leading carmakers - Maruti Suzuki India and Hyundai India are one among them. Both the carmakers have registered positive growth for the month of February 2017 and here are the detailed sales figures.