Hyundai to sign agreement with Tamil Nadu govt for Rs 70-bn investment

Hyundai Motor India will increase its production capacity by 100,000 units

Hyundai Motor India Ltd (HMIL), part of Korean auto major Hyundai Motor, is set to sign a memorandum of understanding (MoU) with the Tamil Nadu Government to invest Rs 70 billion in the state.  

Y K Koo, managing director and chief executive officer, together with B C Datta, vice-president (corporate affairs), and N Ramesh, assistant vice-president (finance), of Hyundai Motor India Limited on Monday met Tamil Nadu Chief Minister Edapaddi K Palaniswamy in Chennai.    

"This Rs 70 billion project means increased production capacity, new model launch and powertrain, altogether. We have the MoU signing in January with