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Hyundai Motor India, the country’s second-largest car manufacturer, has submitted a pre-feasibility report detailing its plans for a comprehensive revamp and modernisation of its manufacturing facility near Chennai.
The South Korean automotive giant, currently in the process of raising funds through its IPO, is set to invest approximately ₹1,500 crore in this expansion.
The proposed expansion will significantly increase the size of the plant, enhancing its footprint from 5.40 lakh sq m to 7.21 lakh sq m. This will involve acquiring an additional 1.81 lakh sq m of land, aimed at improving operational efficiency and boosting production capacity.
155 new jobs
Although a spokesperson from Hyundai declined to provide further comments on the project, the expansion is expected to generate around 155 new jobs. The factory currently employs over 19,700 people, including regular staff, trainees, contract workers, and floating manpower.
Hyundai Motor India’s facility in Irungattukottai covers an area of 538 acres and has a production capacity of 8.50 lakh cars per year. The modernisation plans are designed to enhance manufacturing processes, integrate advanced technologies, and ultimately increase the overall output of the plant.
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Published on October 17, 2024
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