 "Modi meets Hyundai Motor chairman")
Prime Minister Narendra Modi on Tuesday met Hyundai Motor's Chairman Chung Mong-koo during his two-day visit to Korea. The development comes at a time when states, including Tamil Nadu, Rajasthan and others, are competing with each other to attract Hyundai's second plant in the country.
While there was no official communication from Hyundai or from the government in this regard, sources said the meeting between the Prime Minister and Koo went on for nearly 30 minutes and during the meeting Modi asked the latter to invest more in India. "We are reviewing it," Koo told reporters.
With an investment of over $ 2.7 billion and vendor investment of $ 1.2 billion, Hyundai Motor India Limited is Tamil Nadu's largest investor. It is India's second largest car marker in India.
Hyundai's plant near Chennai is a fully integrated manufacturing plant and boasts of advanced production, quality and testing capabilities. Spread over 535 acres, the facility has two plants within, producing 680,000 units between them. While Plant 1 has a production capacity of 330,000 units, Plant 2 can produce 350,000 units.