Hyundai Motor India Ltd has unveiled plans to invest a whopping Rs 6,180 crore in Tamil Nadu. This substantial investment is set to fuel various initiatives, notably the establishment of a hydrogen resource center. The automaker's commitment doesn't stop there - it's an addition to the Rs 20,000 crore investment earmarked for the next decade (2023-2032). These funds will be channeled into bolstering electric vehicle manufacturing, charging infrastructure, and skill development.

During the Tamil Nadu Global Investors Meet 2024, Hyundai inked a Memorandum of Understanding (MoU) with the state government outlining this new investment. Unsoo Kim, Hyundai Motor India's MD & CEO, emphasized that this significant investment showcases their dedication to enhancing the state's socio-economic development and fostering self-reliance within the country.

Kim highlighted that this collaboration transcends mere financial investment. It's a strategic move to cultivate a robust hydrogen technology ecosystem, aligning with the company's sustainability goals and its vision for a greener future.

Hyundai's pledge to set up a 'Hydrogen Valley Innovation Hub' with an investment of Rs 180 crore, in collaboration with IIT-Madras, is part of the MoU. This hub will serve as an incubation center, fostering the localization of hydrogen-related technologies.

Moreover, this initiative is anticipated to create job opportunities and contribute to skill development in the region, benefiting the local community. Hyundai Motor India currently operates its manufacturing base near Chennai, producing over 800,000 units annually.

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