Hyundai Motor India has committed an additional investment of Rs 6,180 crore in Tamil Nadu, including Rs 180 crore for the establishment of a dedicated ‘Hydrogen Valley Innovation Hub’ in collaboration with IIT-Madras. This investment is in addition to the previous commitment of Rs 20,000 crore over 10 years to boost electric vehicle manufacturing, charging infrastructure, and skill development.
The Memorandum of Understanding (MoU) for this investment was exchanged between Unsoo Kim, MD and CEO of Hyundai Motor India, and V Arun Roy, Secretary to Government, Industries Department, Tamil Nadu, during the ongoing Tamil Nadu Global Investors Meet in the presence of Chief Minister MK Stalin, Union Minister Piyush Goyal, and other officials.
Hyundai Motor India expressed gratitude for the support received from the state over the past 27 years and emphasized its commitment to strengthening the state’s socio-economic development and making the country self-reliant. The investment aims to cultivate a robust hydrogen technology ecosystem and contribute to Tamil Nadu’s goal of becoming a USD 1 trillion economy.
The Hydrogen Valley Innovation Hub, in partnership with IIT-Madras, will serve as an incubation cell for developing a framework for the localization of the hydrogen ecosystem. Furthermore, this initiative is expected to generate employment opportunities and support skill development in the region.
At the Tamil Nadu Global Investors Meet, Hyundai showcased its Fuel Cell Electric Vehicle (FCEV) NEXO and an exclusive Advanced Driver Assistance Systems (ADAS) Engagement Zone. The NEXO vehicle represents Hyundai’s commitment to a cleaner environment through eco-friendly vehicles. By combining oxygen with compressed hydrogen, its hydrogen fuel cell engine generates electricity and emits only water.
The Hyundai SmartSense technology, integrated with Level 2 ADAS, was demonstrated using an immersive gaming experience, allowing visitors to experience the advanced features of the vehicles.
With Hyundai’s substantial investment and emphasis on hydrogen technology, Tamil Nadu is poised to become a prominent player in sustainable mobility. This investment will not only bolster the state’s economy but also contribute to the overall development of a greener future.
As Hyundai continues to expand its presence and investment in Tamil Nadu, it reinforces the company’s commitment to the region’s growth and development, establishing itself as a key player in India’s electric vehicle and hydrogen technology landscape.
