22, February, 2024
HomeBusinessHyundai's Vision for a Green Tomorrow: Rs 6,180 Crore Investment in Tamil Nadu

Hyundai’s Vision for a Green Tomorrow: Rs 6,180 Crore Investment in Tamil Nadu

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Hyundai Motor India Limited (HMIL) is set to make a substantial investment of Rs 6,180 crore in Tamil Nadu, marking a significant stride towards a sustainable and greener future. The announcement was unveiled during the Tamil Nadu Global Investors Meet 2024, where a Memorandum of Understanding (MoU) was formally signed.

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As part of Hyundai’s broader investment plan of Rs 20,000 crore over the next decade, this initiative includes the establishment of a dedicated Hydrogen Valley Innovation Hub in collaboration with IIT-Madras. The focus on hydrogen technology aligns with Hyundai’s commitment to fostering a global Hydrogen Society.

The signatories of the MoU included Unsoo Kim, MD & CEO of Hyundai Motor India, and key government officials, reinforcing Hyundai’s 27-year commitment to Tamil Nadu. Kim expressed gratitude for the state’s unwavering support and highlighted the investment as a testament to their commitment to socio-economic development and self-reliance.

This partnership extends beyond financial investment, acting as a catalyst for building a resilient hydrogen technology ecosystem. Kim emphasized that this collaborative effort will play a pivotal role in driving Tamil Nadu towards the milestone of attaining a $1 trillion economy.

In line with the Hyundai Hydrogen Vision, the company aims to contribute to the global Hydrogen Society, ensuring widespread accessibility and utilization of hydrogen for various applications. The establishment of a dedicated Hydrogen Valley Innovation Hub, with an investment of Rs 180 crore, in collaboration with IIT-Madras, will serve as an incubation center, fostering the development of a localized hydrogen ecosystem framework.

Hyundai showcased its commitment to hydrogen technology at the investors’ meet by featuring the Fuel Cell Electric Vehicle (FCEV) NEXO. This vehicle exemplifies Hyundai’s dedication to a cleaner environment through eco-friendly vehicles, with its hydrogen fuel cell engine emitting only water.

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In addition to the NEXO display, Hyundai presented an Advanced Driver Assistance Systems (ADAS) Engagement Zone, demonstrating the integration of Hyundai SmartSense technology. The Level 2 ADAS technology showcased through gaming experiences provided visitors with insights into the future of automotive safety and technology. This multi-faceted investment underscores Hyundai’s commitment to innovation, sustainability, and a green tomorrow.

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