On Friday, Hyundai Motor India confirmed the completion of its acquisition of General Motors India’s manufacturing plant in Talegaon, Maharashtra. The company, the country’s second-largest carmaker, declared a substantial Rs 6,000 crore investment in Maharashtra, aligning with an agreement forged between Hyundai and the state government in Davos. This acquisition underscores the automaker’s dedication to Atmanirbhar Bharat, positioning India as a central hub for cutting-edge smart mobility solutions.
Hyundai Completes Talegaon Plant Acquisition
Hyundai Motor India declared the completion of the Talegaon facility acquisition, highlighting the fulfilment of specific conditions and the receipt of regulatory approvals from relevant government authorities and stakeholders, as stated in a company release. Un Soo Kim, Managing Director & CEO of Hyundai Motor India Ltd (HMIL), emphasised,
“India holds paramount importance for Hyundai Motor Company, and we pledge to deliver pioneering products and technologies to our Indian customers,”
Kim added that as the company envisions the next decade of advancement, augmenting manufacturing capacity in India is imperative. He noted,
“The Talegaon manufacturing plant will act as a catalyst in achieving HMIL’s 1 million annual production capacity milestone.”
Stating a commitment to Atmanirbhar Bharat, the automaker reinforces its dedication by positioning India as a hub for advanced smart mobility solutions through the completion of the Talegaon plant acquisition. Kim announced that manufacturing operations are set to commence in Talegaon, Maharashtra, in 2025. The existing annual production capacity of the Talegaon plant stands at 1.3 lakh units. Hyundai Motor India aims to expand its annual production capacity to realize its strategic goal in the market.
The company has announced its intention to make phased investments to upgrade the plant’s existing infrastructure and manufacturing equipment. With over two decades of operations in India, General Motors ceased car sales in the country at the end of 2017 as part of its global restructuring initiatives. Previously, General Motors had entered into an agreement to sell the Talegaon plant to Chinese carmaker Great Wall Motors. However, the Chinese carmaker abandoned plans to enter the Indian market, leading to the agreement falling through last year.
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