Hyundai Motor’s Indian unit on Friday said it would invest Rs 6,000 crore in the western state of Maharashtra, while also disclosing that it had completed the acquisition of General Motor’s plant in the state.
India’s second-largest carmaker by sales did not disclose a deal value for the Talegaon plant or give details of its investment in Maharashtra.
The deal for the plant, announced last March, will take Hyundai’s production capacity to 1 million units from more than 800,000 currently. It is expected to begin operations by 2025.
The Korean automaker has announced a string of investments over the last year in the southern state of Tamil Nadu – where its only Indian plant is located.
Earlier this month, Hyundai signed a non-binding agreement with the Tamil Nadu government to invest Rs 6,180 crore, some of it earmarked for electric vehicle (EV) battery and car manufacturing.
