Hyundai has successfully acquired General Motors India's manufacturing plant in Talegaon, Maharashtra, marking a significant step for the automaker. The second-largest car manufacturer in India, Hyundai Motor, has confirmed the completion of the acquisition and revealed its plans to invest Rs 6,000 crore in the state of Maharashtra. This investment is part of an agreement between Hyundai and the state government, formalized in Davos.

The acquisition process was finalized after meeting specific conditions and obtaining regulatory approvals from relevant government bodies and stakeholders, according to a statement from Hyundai Motor India. Emphasizing the importance of the Indian market, Hyundai Motor India's MD & CEO, Un Soo Kim, expressed the company's commitment to delivering cutting-edge products and technologies to Indian customers.

Looking ahead to the next decade, Kim highlighted the need to enhance manufacturing capacity in India. The Talegaon manufacturing plant is poised to play a crucial role in achieving Hyundai Motor India Ltd's milestone of reaching an annual production capacity of 1 million units. Kim affirmed that this acquisition aligns with the company's commitment to Atmanirbhar Bharat, making India a hub for advanced smart mobility solutions.

Hyundai Motor India plans to commence manufacturing operations at the Talegaon plant in 2025, with the facility currently having an annual production capacity of 1.3 lakh units. To achieve its strategic goals in the market, the company aims to expand its annual production capacity and will make phased investments to upgrade the existing infrastructure and manufacturing equipment at the plant.

It's noteworthy that General Motors ceased car sales in India at the end of 2017 after over two decades of operation. The Talegaon plant, originally intended to be sold to Chinese carmaker Great Wall Motors, became part of Hyundai's plans after the Chinese company withdrew from entering the Indian market last year.

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