Hyundai Motor India Limited (HMIL), the second largest car maker in India is all set to invest as much as $300 Million in order to set up a flexi-engine plant in India. HMIL already has a capacity of producing 6,30,000 units of vehicles annually and the new press and engine shop will come up at the existing location at Sriperumbudur in Chennai.
HMIL will sign a memorandum of understanding (MoU) with the Tamil Nadu government and share detailed plans of the future projects for the Indian market.
The investment will help us meet the growing demand of diesel vehicles in India and reduce the waiting period on our popular models. Also, the new investment will create a direct employment opportunity of at least 500 people, indirect employments will be even more.
The company also revealed that setting up this plant will help customers to have more diesel options across the line-up. This does firm up our belief that the next-gen i10 (spy pic above) is being readied with a diesel heart. Good time to come, what do you think?
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Source: Economic Times
Arghya Pan
