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Hyundai Pledges ₹32,000 Cr for Future EV Sector: What’s Coming? 

Hyundai Motor India Ltd plans to invest ₹32,000 crore over ten years to boost production and develop new products, including electric vehicles, to meet global and local demand.
Hyundai Pledges ₹32,000 Cr for Future EV Sector: What's Coming? 

Hyundai Motor India Ltd (HMIL) has announced plans to invest ₹32,000 crore over the next ten years to expand production capacity and fund new product development. This substantial investment will support the launch of new models, including electric vehicles. The expansion aims to increase HMIL’s production capacity to meet both domestic and international demand.

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The investment includes a significant ₹26,000 crore in HMIL’s Chennai plant and ₹6,000 crore in the Talegaon plant in Maharashtra, which is expected to start operations in the second half of 2025. These investments are part of agreements with the Tamil Nadu and Maharashtra governments, aiming to boost HMIL’s production capacity to 1.1 million units annually by 2028.

Also Read : Hyundai Motor India IPO Review

Hyundai is also focusing on expanding its electric vehicle (EV) lineup as part of this investment. The company plans to launch four new EV models in the medium term, targeting various market segments. These include a mass-market electric car, the Inster EV, an electric version of the Creta SUV, and other premium models, enhancing its offerings in the fast-growing EV market.

In conjunction with these expansion plans, Hyundai Motor India is set to launch an IPO on October 15, 2024, seeking to raise ₹27,870 crore from investors. This IPO, which will offer 14.22 crore shares at a price band of ₹1,865-1,960 per share, represents the largest public offering in India in terms of issue size.

Also Read : Hyundai Motor India Limited IPO GMP – Click Now for the Exciting Details!

The IPO is structured as an Offer for Sale (OFS), meaning the proceeds will directly benefit the promoters of Hyundai Motor India Ltd. Retail investors can participate with a minimum lot size of 7 shares, equating to an investment of ₹13,720. The subscription period closes on October 17, with a tentative listing date of October 22 on both the BSE and NSE.

These ambitious plans by Hyundai highlight its commitment to enhancing its manufacturing capabilities and product offerings, particularly in the electric vehicle segment, positioning it to capitalise on increasing global and local demand for innovative automotive solutions.

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