Hyundai Plans ₹4,000 Crore Investment in Maharashtra by 2030
Hyundai Motor India announces a significant investment to enhance its Pune plant capacity and boost local manufacturing.
Hyundai will invest ₹4,000 crore in Maharashtra by 2030, doubling Pune plant capacity to 320,000 units annually.
The company aims for 92% localization in manufacturing, building on a previous ₹7,000 crore investment.
Hyundai celebrates 30 years in India and has achieved 4 million cumulative vehicle exports, reinforcing its commitment to the Indian market.
Hyundai Motor India has revealed plans to invest an additional ₹4,000 crore in Maharashtra by the year 2030. This investment is aimed at nearly doubling the production capacity of its Pune manufacturing facility to 320,000 units per year. The announcement was made by Tarun Garg, CEO and Managing Director of Hyundai Motor India, during a recent event in Pune, where the state Chief Minister Devendra Fadnavis and other officials were present.
The Pune plant, which has already seen an investment of ₹7,000 crore, currently has a manufacturing capacity of 170,000 units. This new investment is part of Hyundai's broader strategy, which includes a commitment of USD 15.5 billion in India by 2032, positioning the country as a key market for future growth. Garg emphasized that this investment will not only enhance production capabilities but also increase localization from 83% to 92%, benefiting the local economy and supply chain.
In addition to the direct investment by Hyundai, its vendors have contributed ₹4,600 crore in Maharashtra, further strengthening the automotive ecosystem in the region. Garg highlighted that Maharashtra's supportive environment is crucial for Hyundai's operations and future plans, which include launching 26 new models to regain market share after a decline in vehicle sales rankings.
Hyundai is also focusing on electric vehicles (EVs), planning to introduce four EV models by 2029 and investing in charging infrastructure. The company aims to localize battery pack production and power electronics, contributing to a sustainable portfolio where 50% of its offerings will be eco-friendly by 2030. The Pune facility is designed to incorporate advanced manufacturing technologies, enhancing its competitiveness in the global market.
Looking ahead, Hyundai's investment in Maharashtra is expected to drive significant industrial development and job creation in the region. The Pune plant will not only support vehicle production but also contribute to the local economy through a robust supplier ecosystem, which has already created over 18,000 jobs. As Hyundai continues to expand its operations in India, it reinforces its commitment to innovation and sustainable manufacturing, marking a significant milestone in its 30-year journey in the country.
