Hyundai Motor India has made declaration that it will make an investment of around $300 million (Rs.1,615 crore) in a top-notch flexible engine facility and an innovative press shop, aside from existing investments in innovative models.
The press as well as engine shop will come up at the subsisting site at Sriperumbudur in the state of Chennai.
The company is ready to ink a memorandum of understanding (MoU) with the administration of Tamil Nadu on November 5.
As per Bo Shin Seo, managing director, Hyundai Motor India (pictured), “Via this investment we fortify our promise to the state and the nation. This investment will assist us meet up the rising demand of diesel vehicles in the Indian market and lessen the waiting period.”
The planned flexi-engine facility and other plants will be established within the HMIL’s subsisting premises at Irungattukottai in the state of Chennai.