A delegation from Korean auto major Hyundai led by its Executive Chairman Euisun Chung called on Chief Minister M K Stalin here on Tuesday, the government said on Tuesday.
The meeting assumes significance as the automaker has committed investments of Rs 20,000 crore in Tamil Nadu over the next 10 years. The investment will be made in phases from 2023 to 2032.
At the Secretariat here, Minister for Industries T R B Rajaa, along with senior government officials including Chief Secretary Shiv Das Meena, Guidance Tamil Nadu MD and CEO V Vishnu, Industries Department Additional Chief Secretary S Krishnan, met Chung in the presence of Chief Minister Stalin.
During the brief interaction, Chung presented a miniature of the companys popular sports utility vehicle to Stalin.
“Had a fruitful meeting with Euisun Chung, Executive Chairman of Hyundai Motor Group today. The dialogue encompassed Hyundais ongoing and upcoming investments in our State, especially in the EV space, potential collaborations in research and development and advanced technologies,” Stalin said in a social media post later, describing the meeting with the Hyundai management.
“With a steadfast presence of over 25 years, Hyundai Motor has propelled remarkable manufacturing and export achievements, etching an indelible mark in Tamil Nadus automotive success story. We will continue and expand this great partnership,” the chief minister said.
Hyundai Motor is one of Tamil Nadus most reliable and long-standing partners in the automobile sector, the Tamil Nadu government said. “The future of auto is in EV (electric vehicle). Hyundai and Tamil Nadus formidable partnership will contribute to making the state the EV capital of Asia,” the office of the Tamil Nadu industries minister said.
In May this year, Hyundai Motor India said it will invest Rs 20,000 crore in a phased manner in Tamil Nadu over the next 10 years to make further inroads into manufacturing of electric vehicles and modernisation of vehicle platforms.
Hyundai has been one of the largest manufacturers and consistent investors in Tamil Nadu. This strategic partnership is a testimony to Hyundais commitment to boost the socio-economic development in the state and make the country self-reliant, Hyundai Motor India MD and CEO Unsoo Kim said in a statement in May following the commitment to invest in Tamil Nadu.
As part of the companys long-term vision, he added, Hyundai has finalised plans to develop and establish Tamil Nadu as a base for Hyundais EV manufacturing in India.
(Except for the headline, this story has not been edited by The Federal staff and is auto-published from a syndicated feed.)