Hyundai Motor India is poised to make a substantial investment of ₹7,000 crore in the Talegaon area of Pune. Maharashtra Deputy Chief Minister Devendra Fadnavis discussed this development in a meeting with Kim Unsoo, MD and CEO of Hyundai Motor India (HMI), accompanied by Executive Director JW Ryu and senior officials from HMI.
The meeting revolved around Hyundai Motor India's noteworthy investment of ₹7,000 crores in Talegaon, Pune. This announcement follows Mitsubishi's recent establishment of a manufacturing plant with an investment exceeding ₹200 crore in Talegaon.
During the meeting, the HMI delegation provided insights into the substantial investment in Talegaon, seeking advice and assistance on various aspects of the project. Fadnavis assured them of the government's complete support for the smooth implementation of the project.
Fadnavis revealed that this investment marks Hyundai's debut in developing a manufacturing facility beyond Tamil Nadu, specifically in Talegaon, where the company has operated successfully for over 25 years.
The HMI delegation is scheduled to visit Davos next week to formalize the commitment with the signing of a Memorandum of Understanding (MOU) with the Government of Maharashtra.
Fadnavis expressed excitement about welcoming Hyundai to establish a world-class manufacturing facility in Maharashtra, anticipating positive outcomes such as job creation and enhanced economic growth in the region.