Hyundai and suppliers to invest $1.5 billion in India
New Delhi, September 25, 2006: Carmaker Hyundai Motor Co announced significant expansion plans in India. The company plans to invest over $900 million to beef up its facilities in the country and expects its affiliates and suppliers to invest close to $600 million in addition. The investment would go towards a car, engine, transmission plant and an R&D Centre.
The company plans to invest $500 million in a new engine plant in Chennai to be ready in two years time. A second plant aimed at increasing production capacity from 3-lakh units to 6-lakh units per annum is also expected to come up in Chennai. The company is mulling alternative locations for the R&D centre and may even consider Hyderabad as a possible site.
By INRnews Correspondent
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