Hyundai to invest Rs 20,000 crore in Tamil Nadu

Hyundai aims to set up 100 charging stations across Tamil Nadu over the next 5 years.

Hyundai has announced that it plans to invest Rs 20,000 crore in Tamil Nadu for developing a sustainable EV ecosystem.

According to the company, the money will go into electric vehicle development and modernization of vehicle platforms over a period of 10 years. The carmaker plans to increase production volumes to 8.5 lakh units per annum, and is looking into carbon-neutral manufacturing.

Hyundai plans to introduce new EV models in India. Currently, it offers two pure-electric models: Kona EV and Ioniq 5. The company will also set up a battery pack assembly unit in the state with an annual capacity of 1.78 lakh units.

In a bid to develop the local charging infrastructure, Hyundai aims to set up 100 charging stations across Tamil Nadu over the next 5 years. This will include 5 ultra-fast charging stations (DC 150 KW +DC 60 KW), 10 Single Fast Charging Stations (DC 150 KW) and 85 Single Fast Charging Stations (DC 60 KW).