Hyundai To Invest 2000 Crore For Electric Vehicle In India

Hyundai to invest 2000 crore for Electric Vehicle in India
2018-02-02 01:24:59

Hyundai to invest 2000 crore for Electric Vehicle in India

Renowned automobile manufacturing company Hyundai is all set to manufacture around 10 lakh unit of Electric Vehicles here in India. For completing this target of manufacturing 10 lakh of Electric Vehicle in India, the Company has planned to invest around 2000 crores of Indian rupees to the manufacturing plant located in Chennai.

The vehicle manufactured in this target may have segments like Subcompact SUV and premium hatchback model. This cars manufactured here India will be exported to the countries like the Middle East, Latin America, Africa and other parts of Asia.

The main reason for the project is to promote Clean Mobility. Presently, Government of India is also focused to promote the use of Electric Vehicle here in India in order to restrict the issue of growing pollution level in a drastic manner and also to minimize the use of diesel vehicle as the price of the diesel are also inflating day by day.

Along with the manufacturing the Electric Vehicle, Hyundai is also planning to manufacture batteries here in India. The reason for manufacturing batteries here in India, because Toyota and Suzuki jointly have set up the battery manufacturing plant in Gujarat.

According to the Hyundai India, MD leading Korean Electronics companies like LG, Samsung SDI, and Sk Innovation will be the part of this project. The Company has recently launched its global electric car under the flagship Kona, whose price is around 25 lakh Indian Rupees. The main aim of Hyundai is to launch Electric Vehicle here in India and to reach maximum customer in the country.  

Renowned automobile manufacturing company Hyundai is all set to manufacture around 10 lakh unit of Electric Vehicles here in India. For completing this target of manufacturing 10 lakh of Electric Vehicle in India, the Company has planned to invest around 2000 crores of Indian rupees to the manufacturing plant located in Chennai.

The vehicle manufactured in this target may have segments like Subcompact SUV and premium hatchback model. This cars manufactured here India will be exported to the countries like the Middle East, Latin America, Africa and other parts of Asia.

The main reason for the project is to promote Clean Mobility. Presently, Government of India is also focused to promote the use of Electric Vehicle here in India in order to restrict the issue of growing pollution level in a drastic manner and also to minimize the use of diesel vehicle as the price of the diesel are also inflating day by day.

Along with the manufacturing the Electric Vehicle, Hyundai is also planning to manufacture batteries here in India. The reason for manufacturing batteries here in India, because Toyota and Suzuki jointly have set up the battery manufacturing plant in Gujarat.

According to the Hyundai India, MD leading Korean Electronics companies like LG, Samsung SDI, and Sk Innovation will be the part of this project. The Company has recently launched its global electric car under the flagship Kona, whose price is around 25 lakh Indian Rupees. The main aim of Hyundai is to launch Electric Vehicle here in India and to reach maximum customer in the country.  

 

Related Articles

Comments

Street Hawks is an online automobile content site in India with vision of providing on the go resource for all types of automobile enthusiasts. Street Hawks has a vision to provide everything for the interested admirers of automobiles in India. Street Hawks has a strong digital presence with the websites providing a daily feed of automobile news, updates and reviews.

Help Center