Following the GST Council’s reforms that included rate rationalisation on smaller cars from 28 per cent to 18 per cent, Hyundai Motor India Limited (HMIL) has decided to increase its investment at its upcoming manufacturing plant in Talegaon to Rs 11,000 crore.
MLA Mahesh Landge has mentioned in a tweet on X, “ Hyundai has announced a massive Rs 11,000 crore investment in Pune, raising its Talegaon project investment from Rs 7,000 crore to Rs 11,000 crore.”
“This expansion will create 7,600 direct jobs and numerous indirect employment opportunities, enhance production capacity significantly, focus on advanced manufacturing technology - a 7th generation paint shop, automation tools, & EV readiness, and will manufacture vehicles for both domestic and international markets. This landmark investment will not only generate thousands of opportunities but also accelerate Pune's industrial and economic development,” Landge mentioned.
The increased investment could probably take the company’s overall capacity in India to 1.1 million in the next three years.
Hyundai India
HMIL had acquired General Motors’ Talegaon plant in 2023-24 and announced an investment of Rs 6,000 crore at the plant to manufacture 1.74 lakh cars per year, while the added investment can take the production to around 2.74 lakh per annum at the Talegaon plant.
The decision was conveyed to the Maharashtra government by Unsoo Kim, HMIL’s managing director, in a meeting with the chief minister Devendra Fadnavis on September 15. The company is expected to start production at the Talegaon plant by December 2025.
