Hyundai to invest Rs 4,191 cr in India
The South Korean auto major announced the investments for setting up new car, engine and transmission plants, apart from a research and development centre.india Updated: Sep 23, 2006 16:42 IST
South Korean auto major Hyundai on Saturday announced investments of Rs 4,191 crore in India for setting up new car, engine and transmission plants, apart from a research and development centre.
The announcement comes days after the company's Chairman and CEO Chung Mong Koo called on President APJ Abdul Kalam and Prime Minister Manmohan Singh, sharing Hyundai's investment plans for the country.
Hyundai, which currently manufactures cars at its facility near Chennai, has so far invested Rs 3,372 crore in India.
The company, which has made India the hub for manufacture of small cars to cater to various geographies, currently has a production capacity of 3,00,000 units, which it will double with the addition of the second plant that is likely to be operational by the end of 2007 and involve an investment of Rs 2,429 crore.