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Hyundai to invest Rs. 7,000 crore in India

According to a media report, Hyundai is planning to invest Rs. 7,000 crore in India. It will be used to expand its facility and increase production capacity as well as launch new models and powertrains. Hyundai and the Tamil Nadu government are expected to sign a Memorandum of Understanding (MoU) in January 2019.

It has been reported that the fresh round of investment would allow Hyundai to increase the annual production capacity at its manufacturing plants in Sriperumbudur near Chennai from 7 lakh to 8 lakh units. The expansion is expected to create about 700 additional jobs.

The investment will also be used to expand its product line up. The carmaker is set to launch its first electric vehicle (EV) in the form of the Kona SUV sometime next year. A Carlino concept-based compact SUV is also in the works along with the next-generation Grand i10.

Source: NDTV

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