Hyundai EV Hub India: Hyundai Motor has chosen which state as its main EV hub in India? How many new models is the company preparing to launch from the Chennai plant this year? Hyundai aims to increase the use of local parts by what percentage in the next 5-6 years?
Hyundai New EV Launch: TheSouth Korean car manufacturing company Hyundai Motor has taken a big step towards local production of electric cars in India. The company has announced that Tamil Nadu will be its main electric vehicle (EV) hub in India. The company’s objective is to increase the production of electric vehicles, strengthen its ability to make parts at the local level and further strengthen its presence through new investments.
The company is preparing to launch two new models from its Chennai plant this year. It will also include Hyundai’s first fully electric car designed for the masses. Apart from this, the company is also setting up a battery sub-assembly unit in Tamil Nadu and is working on manufacturing essential EV parts in India.
Hyundai aims to increase the use of local parts in both electric and petrol-diesel vehicles from 82% to 90% in the next five to six years. This means that most of the parts used in cars will be made by the company in India only. The company will increase its purchases from suppliers in Tamil Nadu, which will generate additional business of about Rs 4,000 crore. This is expected to create about 2,000 new jobs.
Additionally, Hyundai and the Government of Tamil Nadu will also jointly launch a skill development programme. In this program, training will be provided in advanced technologies like electric vehicle, hydrogen mobility, robotics, automation and AI based manufacturing. This program is expected to start in December 2027. Hyundai has reiterated that it will invest more than Rs 26,000 crore in Tamil Nadu between 2023 and 2032. The company aims to make the state a major automobile and electric vehicle manufacturing hub in India.