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Chennai (Tamil Nadu) [India], May 11 : Hyundai Motor India on Thursday announced its long-term investment plans in Tamil Nadu. The company said it would make further inroads into electric vehicles by investing Rs 20,000 crore in a phased manner over the period of 10 years.An MoU was exchanged between Unsoo Kim, MD and CEO, of Hyundai Motor India and V Vishnu, MD & CEO, of Guidance Tamil Nadu in the presence of M K Stalin, Chief Minister of Tamil Nadu, among others.Hyundai will set up a state-of-the-art battery pack assembly unit with an annual capacity to assemble 178,000 units of batteries. It will install 100 EV Charging Stations at various key locations in major highways, over a period of five years.Hyundai Motor India has also announced its plan to further increase the total production volumes to 850,000 units per year and introduce new Electric and internal combustion-based vehicles from its factory here in the state's Sriperumbudur."Hyundai has been one of the largest manufacturers and consistent investors in Tamil Nadu. This strategic partnership is a testimony to Hyundai's commitment to boost the socio-economic development in the State and make the country self-reliant," said Unsoo Kim, MD and CEO, of Hyundai Motor India."As part of our long-term vision, we have finalized plans to develop and establish Tamil Nadu as a base for Hyundai's EV Manufacturing in India. This will help us to strengthen our portfolio and provide best-in-class features and technologies in our vehicles which will exceed our customer aspirations," the MD and CEO said.Hyundai Motor India Ltd. (HMIL)is a wholly-owned subsidiary of Hyundai Motor Company (HMC).Hyundai Motor India presently operates with a network of 1,340 sales points and 1,502 service points across India.Its model line-up consists of 12 car models across segments, Grand i10 NIOS, i20, i20 N-Line, AURA, VENUE, VENUE N-Line, VERNA, CRETA, ALCAZAR, TUCSON, KONA Electric and all-electric SUV IONIQ 5.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Chennai (Tamil Nadu) [India], May 11 : Hyundai Motor India on Thursday announced its long-term investment plans in Tamil ... ...