- Operations to begin in 2025
- Hyundai to increase production capacity to 10 lakh units
Hyundai Motor India has signed an Asset Purchase Agreement (APA) for acquiring the General Motors India Talegaon plant in its entirety. The agreement gives all rights and ownership of the land, buildings, assets, and machinery of the Talegaon plant to the Korean automaker.
At present, the Talegaon manufacturing facility has a capacity of producing over 1.30 lakh vehicles annually. However, Hyundai plans to expand its production capacity, as the brand has increased its overall annual production capacity from 7.50 lakh units to 8.20 lakh units. With this new plant in action, the automaker aims at ramping up the vehicle production capacity to 10 lakh units a year.
Commenting on the announcement, Unsoo Kim, Managing Director and CEO, Hyundai Motor India Ltd, said, 'This year is a significant milestone for Hyundai Motor India, as we celebrate 27 years of activity in the market. Demonstrating our dedication to India, earlier this year, HMIL entered into a Memorandum of Understanding (MoU) to invest Rs. 20,000 crore in Tamil Nadu for expanding capacity and establishing an electric vehicle ecosystem. As we reinforce our commitment to ‘Atmanirbhar Bharat’ (Self-Reliant India), we intend to create an advanced manufacturing centre for cars Made-in-India in Talegaon, Maharashtra. Our manufacturing operations are scheduled to begin in Talegaon, Maharashtra, in 2025.'
