Hyundai, the South Korean automaker, has revealed its ambitious plan to invest Rs 20,000 crore over the next 10 years, until 2032, in India. This investment will be directed towards expanding its production capacity and the development of more electric vehicles (EVs) while remaining headquartered in Tamil Nadu. Here’s a closer look at the various aspects of the plan:
Dedicated Battery Pack Assembly Plant
One of the major highlights of Hyundai’s investment plan is the establishment of a dedicated battery pack assembly plant in Tamil Nadu. This facility will be capable of assembling 1.78 lakh battery packs per year. The investment will also be used to scale up its manufacturing capabilities and boost its annual production capacity to 8.5 lakh units at its Sriperumbudur plant in Tamil Nadu. This will entail the introduction of new EVs and internal combustion engine (ICE) powered vehicles from the facility.
Fast Charging Stations
Hyundai’s commitment to EVs extends beyond producing new models and localizing battery pack assembly. The automaker has also committed to installing 100 fast charging stations at strategic locations across major highways in Tamil Nadu. These stations will include five dual fast charging stations featuring 150kW and 60kW DC chargers, 10 single fast charging stations equipped with 150kW DC chargers, and 85 single charging stations with 60kW DC chargers.
Sustainable Technologies
In addition to its investment in EVs, Hyundai is committed to developing sustainable technologies for mobility. This includes experimenting with hydrogen fuel cell-based energy sources. As a result, the company is dedicated to using cleaner energy sources for a more sustainable future.
Hyundai’s investment plan for India is a significant step towards the country’s adoption of EVs. By introducing more EV models, establishing a dedicated battery pack assembly plant, and installing fast charging stations, Hyundai is contributing towards a more sustainable future. Moreover, the company’s focus on sustainable technologies and cleaner energy sources demonstrates its commitment to reducing its carbon footprint and promoting a greener future.
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