- Hyundai India has signed a memorandum of understanding with the government of Tamil Nadu to invest Rs 20,000 crore in the state for creating a sustainable electric vehicle ecosystem.
- This investment will be made in a phased manner over the period of the next 10 years.
- Hyundai will also set up a state-of-the-art battery assembly unit in the state, with an annual capacity to assemble 1.78 lakh units of batteries.
- Over the course of 5 years, the Korean automaker will also establish 100 EV charging stations in strategic locations along major highways. This initiative will consist of 5 Dual Ultra-Fast Charging Stations (DC 150 KW +DC 60 KW), 10 Single Fast Charging Stations (DC 150 KW), and 85 Single Fast Charging Stations (DC 60 KW).
- Hyundai Motors has also cleared its intentions to increase the overall production volumes to 8.50 lakh units per annum and introduce new Electric & ICE vehicles from its factory in Sriperumbudur.
- As a part of Hyundai Motor Group’s enduring strategic vision to foster clean energy, Hyundai will continue exploring future sustainable technologies in the forthcoming years.
![Hyundai Exter India Launch](http://gaadify.com/wp-content/uploads/2023/05/Hyundai-Exter.png)
In other news, Hyundai is all set to launch a new-micro SUV in India named “EXTER”. Bookings for this upcoming utility vehicle has already been commenced, and its launch will take place probably next month. Click here for more details.