<p>New Delhi: Hyundai Motor India Ltd on Monday said it will invest Rs 6,180 crore on various initiatives, including establishing a hydrogen resource centre, in Tamil Nadu.</p>.<p>The fresh investment by the automaker is in addition to the Rs 20,000 crore it plans to deploy over a period of ten years (2023- 2032) to augment its efforts in electric vehicle manufacturing, charging infrastructure and skill development.</p>.<p>The company inked an MoU with the state government regarding the new investment during the Tamil Nadu Global Investors Meet 2024.</p>.<p>"This substantial investment of Rs 6,180 crore is a testament to our enduring commitment to fortifying the state's pursuit to boost the socio-economic development in the state and make the country self-reliant," Hyundai Motor India MD & CEO Unsoo Kim said in a statement.</p>.Hyundai Motor India total sales grow 9% to 7,65,786 units in 2023.<p>This collaboration with the state government goes beyond mere investment; it is a catalyst for cultivating a robust hydrogen technology ecosystem that mirrors the company's commitment to sustainability and a green future, he added.</p>.<p>"We are confident that this collective effort will propel Tamil Nadu towards achieving the milestone of becoming a $1 trillion economy," Kim said.</p>.<p>As part of the MoU, Hyundai will establish a dedicated 'Hydrogen Valley Innovation Hub,' with an investment of Rs 180 crore, in association with IIT-Madras.</p>.<p>This facility will act as an incubation cell to develop a framework for localisation of the hydrogen ecosystem.</p>.<p>The initiative is also expected to generate employment and support skill development in the region, the automaker stated.</p>.<p>Hyundai Motor India has its manufacturing base in Tamil Nadu. It rolls out over 8 lakh units annually from the manufacturing plant near Chennai.</p>
<p>New Delhi: Hyundai Motor India Ltd on Monday said it will invest Rs 6,180 crore on various initiatives, including establishing a hydrogen resource centre, in Tamil Nadu.</p>.<p>The fresh investment by the automaker is in addition to the Rs 20,000 crore it plans to deploy over a period of ten years (2023- 2032) to augment its efforts in electric vehicle manufacturing, charging infrastructure and skill development.</p>.<p>The company inked an MoU with the state government regarding the new investment during the Tamil Nadu Global Investors Meet 2024.</p>.<p>"This substantial investment of Rs 6,180 crore is a testament to our enduring commitment to fortifying the state's pursuit to boost the socio-economic development in the state and make the country self-reliant," Hyundai Motor India MD & CEO Unsoo Kim said in a statement.</p>.Hyundai Motor India total sales grow 9% to 7,65,786 units in 2023.<p>This collaboration with the state government goes beyond mere investment; it is a catalyst for cultivating a robust hydrogen technology ecosystem that mirrors the company's commitment to sustainability and a green future, he added.</p>.<p>"We are confident that this collective effort will propel Tamil Nadu towards achieving the milestone of becoming a $1 trillion economy," Kim said.</p>.<p>As part of the MoU, Hyundai will establish a dedicated 'Hydrogen Valley Innovation Hub,' with an investment of Rs 180 crore, in association with IIT-Madras.</p>.<p>This facility will act as an incubation cell to develop a framework for localisation of the hydrogen ecosystem.</p>.<p>The initiative is also expected to generate employment and support skill development in the region, the automaker stated.</p>.<p>Hyundai Motor India has its manufacturing base in Tamil Nadu. It rolls out over 8 lakh units annually from the manufacturing plant near Chennai.</p>