Team Blitz India
NEW DELHI: Hyundai Motor India on January 19 said it has completed the acquisition of General Motors India’s manufacturing plant at Talegaon in Maharashtra.
The country’s second-largest carmaker also announced that it will invest Rs 6,000 crore in Maharashtra as part of an agreement inked between the company and the state government in Davos.
The acquisition of the Talegaon facility has been completed after the fulfilment of certain conditions and the receipt of regulatory approvals from relevant government authorities and relevant stakeholders, Hyundai Motor India said in a statement.
“India is a very important market for Hyundai Motor Company, and we are committed to provide benchmark creating products and technologies to Indian customers,” Hyundai Motor India Ltd (HMIL) MD & CEO Un Soo Kim said.
As the company looks forward to the next decade of progress, it is critical to augment manufacturing capacity in India, he added.
“The Talegaon manufacturing plant will play the role of a catalyst in achieving HMIL’s 1 million annual production capacity milestone,” Kim said.
The acquisition of the Talegaon plant reinforces the automaker’s commitment to Atmanirbhar Bharat, by making India a hub for advanced smart mobility solutions, he stated.