Chennai. Hyundai Motor India Ltd (HMIL) on Monday said it will invest Rs 6,180 crore in Tamil Nadu between 2023-2032, in addition to the previously announced investment of Rs 20,000 crore for electric vehicles and others.
According to Hyundai Motor, Rs 180 crore of the latest investment announcement will be for a dedicated ‘Hydrogen Valley Innovation Hub’ in collaboration with the Indian Institute of Technology-Madras.
The carmaker has signed a memorandum of understanding (MoU) with the Tamil Nadu government for an investment of Rs 6,180 crore.
The substantial investments are a testament to the company’s commitment to promoting socio-economic development in the state and strengthening the state’s efforts to make the country self-reliant.
Managing Director and CEO Unsoo Kim said, “This collaboration with the state government goes beyond mere investment. “This is a catalyst to develop a strong hydrogen technology ecosystem that reflects our commitment to sustainability and a green future.”
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