 "Hyundai Motor India Ltd, Hyundai")
Hyundai Motor India Limited (HMIL) has announced Rs 6,180 crore investment plans in the state of Tamil Nadu, including Rs 180 crore towards a dedicated Hydrogen Valley Innovation Hub, in association with IIT-Madras.
This is in addition to the Rs 20,000 crore investment planned in a phased manner over 10 years (2023 to 2032) to augment its efforts in electric vehicle manufacturing, charging infrastructure, and skill development.
"Hyundai is one of the largest and consistent investors in Tamil Nadu for the past 27 years. We extend our heartfelt gratitude for the unwavering support and guidance received from the state. This substantial investment of Rs 6,180 crore is a testament to our enduring commitment to fortifying the state's pursuit to boost the socio-economic development in the State and make the country self-reliant," said Unsoo Kim, managing director and chief executive officer, Hyundai Motor India. "This collaboration with the state government goes beyond mere investment; it is a catalyst for cultivating a robust hydrogen technology ecosystem that mirrors our commitment to sustainability and a green future. We are confident that this collective effort will propel Tamil Nadu towards achieving the milestone of becoming a $1 trillion economy."
Aligned with the Hyundai Hydrogen Vision, the goal is to help foster a worldwide Hydrogen Society by making hydrogen readily used for everyone, everything, and everywhere. As part of this, HMIL is collaborating with the Government of Tamil Nadu and signed another MOU to establish a dedicated ‘Hydrogen Valley Innovation Hub,’ with an investment of Rs 180 crore, in association with the IIT-Madras. This facility will act as an incubation cell to develop a framework for localisation of the hydrogen ecosystem. The initiative is also expected to generate employment and support skill development in the region.
Hyundai also showcased the globally renowned Fuel Cell Electric Vehicles (FCEV) NEXO and an exclusive Advanced Driver Assistance Systems (ADAS) Engagement Zone at the Tamil Nadu investors' meet. NEXO marks Hyundai’s advancement towards achieving a cleaner environment through eco-friendly vehicles. NEXO’s hydrogen fuel cell engine generates electricity by combining oxygen with compressed hydrogen, emitting only water. The visitors can also experience the Hyundai SmartSense (Level 2 ADAS) technology that has been integrated and demonstrated using an immersive experience with gaming.
