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Hyundai Motor India Ltd today announced an investment of $300 million (approximately Rs 1,500 crore) in a flexible engine plant and a new press shop, apart from ongoing investments in new models.
A press release from the company says the press and engine shop will come up at the existing location at Sriperumbudur, near Chennai.
The company is all set to sign a memorandum of understanding with the Tamil Nadu Government on November 5 to this effect.
The release, quoting the company’s Managing Director, Bo Shin Seo, says this investment will help the company meet the growing demand of diesel vehicles in India and reduce the waiting period.
>ravikumar.ramanujam@thehindu.co.in
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