Hyundai Motor India Acquires GM's Talegaon Plant; to Invest Rs 6,000 Crore in Maharashtra

Hyundai Motor India Ltd. (HMIL), has acquired the Talegaon factory of General Motors India, located in Pune, Maharashtra. Following the fulfillment of specific requirements and obtainment regulatory clearance from the relevant government departments and stakeholders, the acquisition has been completed. Hyundai Motor India has also inked a formal Memorandum of Understanding (MoU) with the Maharashtra government. With this, it has pledged to spend Rs 6,000 crore in the state. 

At the moment, the Talegaon factory produces 1,30,000 units per year. To reach its targets, the automaker plans to increase production capacity even further. HMIL states that the facility will be updated to meet the company's global manufacturing and operational needs. To achieve production excellence, investments will be undertaken in stages to gradually update the plant's existing infrastructure and equipment.

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What the Company Has to Say?

Mr. Un Soo Kim, MD & CEO, of Hyundai Motor India Ltd., shared his thoughts on the acquisition and commented ''India is a very important market for Hyundai Motor Company, and we are committed to providing benchmark creating products & technologies to Indian customers. As we look forward to the next decade of progress for Hyundai Motor India, it is critical for us to augment our manufacturing capacity in India.''

He further added ''The Talegaon manufacturing plant will play the role of a catalyst in achieving HMIL’s 1 million annual production capacity milestone. The acquisition of the Talegaon plant reinforces our commitment to ‘Atmanirbhar Bharat’ (Self-Reliant India), by making India a hub for advanced smart mobility solutions, Make-In-India for the world. Our manufacturing operations are scheduled to begin in Talegaon, Maharashtra in the year 2025.”

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