Hyundai Motor India Limited (HMIL), announced Rs 6 180 crore investment plans in the state of Tamil Nadu (this includes Rs 180 crore towards a dedicated ‘Hydrogen Valley Innovation Hub,’ in association with IIT- Madras). This is in addition to the Rs 20000 Crore investment planned in a phased manner over the period of 10 years (2023 to 2032) to augment its efforts in electric vehicle manufacturing, charging infrastructure and skill development.
In this regard, an MoU was exchanged between Unsoo Kim, MD & CEO, Hyundai Motor India Limited and V Arun Roy, IAS., Secretary to Government, Industries Department, Government of Tamil Nadu in the presence of M K Stalin, Chief Minister of Tamil Nadu, Piyush Goyal, Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Dr. T R B Rajaa, Minister for Industries, Investment Promotion & Commerce, Shiv Das Meena, I.A.S., Chief Secretary, Government of Tamil Nadu and other senior officials during the inaugural ceremony of Tamil Nadu Global Investors Meet 2024.
Unsoo Kim, MD & CEO, Hyundai Motor India Ltd., said, “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. 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.”
MoU to Establish Hydrogen Resource Centre in Association with IIT-Madras
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 localization of hydrogen ecosystem. The initiative is also expected to generate employment and support skill development in the region.
Hyundai Showcase at Tamil Nadu Global Investors Meet
Hyundai has showcased the globally renowned Fuel Cell Electric Vehicles (FCEV)NEXO and an exclusive Advanced Driver Assistance Systems (ADAS) Engagement Zone at the event. 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 immersed experience with Gaming.