Hyundai Motor India to invest $1.16 billion to expand capacity at Pune city plant
The Logo of Hyundai Motor India Limited is seen on a parked car in the company’s stockyard, in the outskirts of Ahmedabad, India, October 8, 2024. REUTERS/Amit Dave
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Oct 14 : Hyundai Motor India plans to invest 110 billion rupees ($1.16 billion) in its Pune city plant to scale up the facility’s annual production capacity by nearly 90 per cent by 2030, the automaker said on Wednesday.
The move comes a day after parent Hyundai Motor Group said it would invest $15.5 billion in India through 2032, positioning the world’s third-largest car market as a key growth market.
India is drawing billions of dollars in commitments from global automakers eager to capture rising consumer demand and strengthen their manufacturing footprints.
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• Hyundai said it plans to increase annual vehicle production capacity at the plant, based in the western state of Maharashtra, to 320,000 units from 170,000 units currently.
• The automaker said it would install flexible production systems capable of supporting multiple models, including traditional internal combustion engine cars and hybrids.
• The Indian unit also said it would incorporate AI-powered operations, including quality inspection and defect detection systems.
• By 2030, new capacity at the Pune plant, alongside operations in Chennai city, is expected to bring Hyundai’s India production to 1.14 million units annually.
($1 = 95.1500 Indian rupees)
Source: Reuters
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