Hyundai Motor India to invest $1.16 billion to expand capacity at Pune city plant
Hyundai Motor India to invest $1.16 billion to expand capacity at Pune city plant Oct 14 (Reuters) - Hyundai Motor India HYUN.NS plans to invest 110 billion rupees ($1.16 billion) in its Pune city plant to scale up the facility's annual production capacity by nearly 90% by 2030, the automaker said on Wednesday.
The move comes a day after parent Hyundai Motor Group 005380.KS said it would invest $15.5 billion in India through 2032, positioning the world's third-largest car market as a key growth market.
India is drawing billions of dollars in commitments from global automakers eager to capture rising consumer demand and strengthen their manufacturing footprints.
Here are some details:
Hyundai said it plans to increase annual vehicle production capacity at the plant, based in the western state of Maharashtra, to 320,000 units from 170,000 units currently.
The automaker said it would install flexible production systems capable of supporting multiple models, including traditional internal combustion engine cars and hybrids.
The Indian unit also said it would incorporate AI-powered operations, including quality inspection and defect detection systems.
By 2030, new capacity at the Pune plant, alongside operations in Chennai city, is expected to bring Hyundai's India production to 1.14 million units annually.
($1 = 95.1500 Indian rupees)
(Reporting by Aishwarya Jain in Bengaluru; Editing by Sonia Cheema)
((Aishwarya.Jain@thomsonreuters.com;))
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