Pune, Oct 14 Korean auto major Hyundai plans to invest an additional Rs 4,000 crore in Maharashtra by 2030, aiming to nearly double capacity at its new Pune manufacturing plant to 320,000 units per annum in a phased manner, a top company executive said on Wednesday.
The facility has already seen an investment of Rs 7,000 crore, Hyundai Motor India (HMI) CEO and Managing Director Tarun Garg told reporters on the sidelines of the launch event here.
The facility was launched officially by state Chief Minister Devendra Fadnavis along with his deputy chief minister Sunetra Pawar, state transport minister Uday Samant, as well as top Hyundai Group executives. The plant has a manufacturing capacity of 170,000 units.
The announcement came a day after Hyundai Motor Group (HMG) announced a comprehensive investment strategy for India, committing USD 15.5 billion by 2032, positioning the country as a core strategic market driving future growth and expansion across emerging markets.
“So Rs 4,000 crore definitely will be invested in Maharashtra out of this (USD 15.5 billion) investment. We are looking at much beyond mobility through this investment … Rs 7,000 crore has already been invested in Maharashtra. This is a direct investment by Hyundai into Maharashtra,” Garg said.
Additionally, HMI vendors have invested Rs 4,600 crore in Maharashtra, and this is the additional investment which they have made, he said.
“Maharashtra is going to play a very important role. We are looking at Pune to really provide a great fillip to our plants in India. Also, the Maharashtra ecosystem gives us an opportunity to localise further from 83 per cent to 92 per cent is what we are aiming for, ” he said.
Hyundai is accelerating investment in India and obviously its Indian arm is going to be a very big beneficiary, he said.
“So we are having a multi-pronged approach. Today you saw the capacity addition. As you know, we are going to launch 26 new models to marry this capacity so that we can get back the market share as well,” he said.
HMI, which used to command second position in terms of vehicle sales after market leader Maruti, slipped to the fourth position in the previous fiscal.
“We are investing a lot in the entire EV ecosystem. So not only will we have four EVs by 2029, but we will also be investing in the charging infrastructure,” Garg said.
HMI is also localising the entire supply chain within battery packs, and power electronics are already being localised, he said.
Hyundai has already announced it will also go for hybrids, with the goal of making 50 per cent of its portfolio sustainable by 2030. “On the export side, we are the number one company in India to reach 4 million export landmarks. But we are still not satisfied. We want to increase further. So I think that is the second thing which we are going to do,” he added.
HMI on this occasion also celebrated 30 years of its presence in India as well as the landmark achievement of cumulative exports of 4 million passenger vehicles from India since 1999, underscoring the company’s contribution towards establishing India as a global automotive manufacturing and export hub.
HMI is cumulatively the largest exporter of passenger vehicles and the first automobile manufacturer to achieve 4 million exports from India. The company has also sold nearly 10 million passenger vehicles in the domestic market.
“The inauguration of Hyundai Motor India’s Pune plant and the company’s achievement of 4 million cumulative passenger vehicle exports reflect India’s growing strength as a global automotive manufacturing hub. Hyundai’s continued investments in advanced manufacturing technologies, innovation, localisation and skill development will contribute significantly to economic growth, employment generation and development of a robust automotive ecosystem in Maharashtra,” said Fadnavis.
Developed as one of Hyundai’s most advanced manufacturing facilities globally, the Pune plant combines Industry 4.0 technologies, AI-enabled production systems, advanced quality management processes and a fully integrated digital manufacturing ecosystem.
“India remains one of Hyundai’s most important and strategic markets. The inauguration of the Pune plant reflects our long-term commitment to India’s growth and our confidence in its bright future. HMI’s milestone of 4 million cumulative vehicle exports demonstrates the global competitiveness of Indian manufacturing and highlights India’s growing role within Hyundai Motor Group’s worldwide operations,” said Euisun Chung, Executive Chair – HMG.
Beyond manufacturing, HMI said it is committed to contributing to India’s future through innovation, research, electrification and talent development.
“Beyond expanding manufacturing capacity, the facility will drive industrial development, innovation and employment generation in the region. Supporting this vision is a strong regional supplier ecosystem, with 55 supplier partners having already invested nearly Rs 4,600 crore in the state. Together with tier-II vendors, the ecosystem has created more than 18,000 employment opportunities in Maharashtra, reinforcing the region’s emergence as a key automotive manufacturing hub,” said Garg.
The Pune plant also houses an engine shop with advanced manufacturing technologies, producing 150,000 engines annually to support vehicle production.
Flexible production systems can support multiple models, including ICE and Hybrid manufacturing in the future. Combined with Chennai operations, HMI’s total manufacturing capacity will reach nearly 1.14 million units annually by 2030.
(PTI News)
