Hyundai Motor India (HMIL) has completed acquisition and assignment of identified assets at General Motors India’s Talegaon Plant in Maharashtra post fulfilment of certain conditions and receipt of regulatory approvals from relevant government authorities and relevant stakeholders. With the signing of an MoU between Hyundai Motor India and Government of Maharashtra, the acquisition of identified assets and assignment of land and buildings will serve as a crucial milestone towards expanding cumulative production capacity to 1 million annual units by HMIL.
The Company has committed to invest INR 6 000 crore in the state of Maharashtra. Un Soo Kim, MD & CEO, HMIL described India is a very important market for the company which has also committed to provide benchmark creating products and technologies to Indian customers. “As we look forward to the next decade of progress for Hyundai Motor India, it is critical for us to augment our manufacturing capacity in India. The Talegaon manufacturing plant will play the role of a catalyst in achieving HMIL’s 1 million annual production capacity milestone.,” said Kim.
The acquisition of Talegaon plant reinforces HMIL’s plan to strengthen the ‘Atmanirbhar Bharat’ mission by making India a hub for advanced smart mobility solutions, Make-In-India for the world. The manufacturing operations are scheduled to begin in Talegaon, Maharashtra in year 2025. The Talegaon plant has an existing annual production capacity of 130 000 units. Hyundai Motor India plans to expand the annual production capacity to achieve its strategic goal in the market and intends to make phased investments for the purpose of 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, ensuring the production of automobiles that exemplify manufacturing excellence. The completion of the acquisition follows the launch of Hyundai Motor’s highly awaited new Hyundai CRETA which offers cutting-edge technology, segment defining safety, exhilarating performance and comfort and
convenience features.
The new Hyundai CRETA with segment leading features including advanced Level 2 ADAS safety suite, powerful 1.5L Turbo GDi engine, distinctive front profile with new signature horizon LED positioning lamp and DRLs, black chrome parametric radiator grille and quad beam LED headlamps creates a commanding look. The vehicle is available at an introductory starting price of INR 10.99 lakh.
The redesigned rear profile of the new Hyundai CRETA is accentuated with all-new signature connected LED tail lamps, new tail gate, bumpers and skid plate design and a new aerodynamic spoiler. The new Hyundai CRETA retains the unmistakable silhouette, when viewed from the side, while improving the overall look with redesigned sharper & sportier diamond cut alloy wheels. The premium interior of the new Hyundai CRETA compliments its commanding exterior design. Featuring cockpit inspired interiors, the new Hyundai CRETA offers hi-tech seamlessly integrated curvilinear screens with 26.03 cm infotainment screen and an advanced 26.03 cm multi display digital cluster.