The project aims to increase the factory's built-up area by 1.81 lakh square meters and create 155 new jobs
18 Oct 2024 | 4810 Views | By Autocar Professional Bureau
Hyundai Motor India, a subsidiary of the South Korean automotive giant Hyundai, recently submitted a pre-feasibility report (PFR) outlining plans for a Rs 1,500 crore revitalization and modernization project at its existing facility in Tamil Nadu.
The proposed expansion aims to increase the plant's footprint from 5.40 lakh square ...
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Hyundai Motor India, a subsidiary of the South Korean automotive giant Hyundai, recently submitted a pre-feasibility report (PFR) outlining plans for a Rs 1,500 crore revitalization and modernization project at its existing facility in Tamil Nadu.
The proposed expansion aims to increase the plant's footprint from 5.40 lakh square meters to 7.21 lakh square meters, incorporating an additional 1.81 lakh square meters of space. This growth is expected to create 155 new job opportunities, slightly increasing the current workforce of 18,706 employees.
Located in Irungattukottai, Kancheepuram district, the sprawling 538-acre factory currently has an annual production capacity of 8.50 lakh vehicles. The modernization plans do not include altering this production capacity, according to the PFR submitted by the company on Thursday.
Hyundai India said no additional land acquisition would be necessary for this expansion. The project site's total plot area remains 21.78 lakh square meters, with the expansion focusing on increasing the built-up area within the existing boundaries.
Hyundai expects the project to be complete over the next five years, pending necessary approvals. The automaker views this investment as crucial to meeting the rising demand for passenger vehicles in both domestic and international markets.
Beyond enhancing manufacturing capabilities, Hyundai expects the project to yield positive environmental impacts and create both direct and indirect employment opportunities, particularly benefiting local communities near the factory, the PFR said.
With an extensive network of 1,366 sales points and 1,551 service centers across India, Hyundai offers a diverse range of vehicles, including hatchbacks, compact and premium SUVs, and electric SUVs. The company's global reach extends to 88 countries spanning Africa, the Middle East, Latin America, Australia, and the Asia Pacific region.