• The acquisition of identified assets and assignment of land & buildings serves as a crucial milestone towards expanding cumulative production capacity to 1 million annual units by Hyundai Motor India Ltd.
• Commencement of production by HMIL at the Talegaon Plant is expected in 2025
• The Asset Purchase Agreement (APA) covers assignment of land and buildings and acquisition of identified assets at General Motors India’s Talegaon Plant
• The Company committed to invest INR 6 000 crore in the state of Maharashtra

Hyundai Motor India Ltd. (HMIL) has completed acquisition and assignment of identified assets at General Motors India’s Talegaon Plant in Maharashtra. The acquisition has been completed post fulfilment of certain conditions and receipt of regulatory approvals from relevant government authorities and relevant stakeholders.

An MoU has been signed between Hyundai Motor India and Government of Maharashtra in the presence of Shri Uday Samant, Hon’ble Minister of Industries, Government of Maharashtra and Mr. Un Soo Kim, MD & CEO, Hyundai Motor India Ltd., in Davos on January 18th, 2024. The Company commits to invest INR 6 000 crore in the state of Maharashtra.

Talegaon plant has an existing annual production capacity of 130 000 units. Hyundai Motor India plans to expand the annual production capacity to achieve its strategic goal in the market. HMIL intends to make phased investments for the purpose of upgrading the existing infrastructure and manufacturing equipment at the Talegaon Plant. These investments are aimed at bringing the plant up to Hyundai Global Operating and Manufacturing Standards, ensuring the production of automobiles that exemplify manufacturing excellence.