Hyundai Motor to invest $85 billion by 2032

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VIVO v29 lite Specification: Amazing Detailed Review

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Hyundai Motor to invest $85 billion by 2032

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Hyundai Motor Group on Tuesday said it will invest $7.7 billion (Rs 57,800 crore) in India over the next five years to drive electric vehicle (EV) and battery manufacturing.

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The investment will be used to set up an EV manufacturing plant in Chennai, Tamil Nadu, and a battery manufacturing plant in Gujarat.

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The new EV plant will have an annual production capacity of 300,000 units, while the battery plant will have a capacity of 50 GWh.

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The company also plans to introduce 6 new EV models in India by 2028.

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Hyundai Motor India currently sells the Kona Electric and the Nexon EV in the country.

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The company has also announced plans to launch an EV SUV in India next year.

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The investment in India is part of Hyundai Motor Group’s global EV strategy.

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The group plans to invest $10.5 billion in EVs and batteries by 2025.

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Hyundai Motor Group is the world’s fifth-largest automaker by sales.

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The company sold 7.7 million vehicles in 2022.

VIVO v29 lite Specification: Amazing Detailed Review

VIVO v29 lite Specification: Amazing Detailed Review

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