Hyundai Motor has announced that it plans to invest $2.45 billion (200 billion Indian rupees) over the next ten years in the southern Indian state of Tamil Nadu to bolster its plans for electric vehicles in the country.
On Thursday, the South Korean company signed an agreement (a memorandum of understanding) with the state government of Tamil Nadu detailing its investment. It will lead to an increased production capacity at the company’s facility in Sriperumbudur — Chennai’s automotive corridor.
Hyundai Motor India, the company’s India subsidiary, will also assemble EV battery packs and install 100 charging stations for EVs. Those charging stations will be a combination of dual ultra-fast and single faster-charging stations and they w …
