CHENNAI: Hyundai Motor India Ltd on Thursday said it will roll out two new models from the Chennai manufacturing facility, including its first mass-market EV, within this year, and said it is committed to making TN its 'Flagship EV Hub for India'.
The company said it is well-positioned to further expand coverage across all major cities and highways over the next 2-3 years backed by a strategically distributed network of high-capacity chargers across key urban and transit corridors, in line with its plans to broaden affordable EV offerings in India, as per a release.
The TN government and Hyundai Motor India Ltd (HMIL) also jointly announced a skill development collaboration to enhance the global employability of the state's youth. The initiative will kick off operations in December 2027.
Tarun Garg, MD-CEO, Hyundai Motor India Ltd, said, "We will roll out two new models from the Chennai facility, including our first mass-market dedicated EV within this year, marking a significant step towards accelerating EV adoption and building a strong EV ecosystem.
"Alongside advancing EV localisation, we are equally focused on developing a future-ready skilled workforce, enabling talent to support future automotive technologies".
HMIL has so far exported over 3.9 million vehicles made in TN to over 150 countries.
Apart from establishingTN's first battery sub-assembly plant for EV powertrains, it is localising power electronics and other key components, it added.
HMIL plans to increase localisation levels from the current 82 epr cent to 90 per cent within six years. It also aims to enhance purchasing value from TN-based suppliers by about Rs 4,000 crore, which is expected to create around 2,000 additional jobs in the state by then.
The Korean firm also reaffirmed its continued investment of over Rs 26,000 crore in TN over the period of 2023 to 2032, which is a part of the Rs 45,000 crore investment announced by the company.