Hyundai inks pact with Maharashtra, to start manufacturing operations from Talegaon plant in 2025

The acquisition has been completed after the fulfilment of certain conditions and receipt of regulatory approvals from relevant government authorities and relevant stakeholders.

The MoU has been signed in the presence of Uday Samant, Maharashtra’s Industries Minister, and Un Soo Kim, MD & CEO, Hyundai Motor India Ltd. The company has commited an investment of Rs 6,000 crore in the state.

Regarding the acquisition, Un Soo Kim said, “India is a very important market for Hyundai Motor Company, and we are committed to provide benchmark creating products and technologies to Indian customers”.

Kim said that the Talegaon manufacturing plant will play the role of a catalyst in achieving HMIL’s 1 million annual production capacity milestone.

“The acquisition of Talegaon plant reinforces our commitment to ‘Atmanirbhar Bharat’ (Self-Reliant India), by making India a hub for advanced smart mobility solutions, Make-In-India for the world. Our manufacturing operations are scheduled to begin in Talegaon in year 2025,” he said.

Talegaon plant has an existing annual production capacity of 1,30,000 units. Hyundai Motor India plans to expand the annual production capacity to achieve its strategic goal in the market.

HMIL intends to make phased investments for upgrading the existing infrastructure and manufacturing equipment at the Talegaon plant. These investments are aimed at bringing the plant up to Hyundai Global operating and manufacturing standards.