Hyundai to invest 400 crore for diesel engine plant

Hyundai Motor India, one of the prominent name in the world of automobiles, is planing to make a huge investment of Rs. 400 crore on a greenfield plant. Hyundai Motor India is a fully owned subsidy of Hyundai Motor Company (HMC), the fourth largest car manufacturer on globe.

Published On Dec 28, 2010 12:06 IST

Published OnDec 28, 2010 12:06 IST

Last Updated OnDec 28, 2010 12:06 IST

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A 1.5 lakh diesel engine is planned by the company where a total amount of Rs 400 crore will be spent. The major purpose behind establishing the diesel engine plant is to cater the demand which is increasings at an exponential rate. For now the company has not announced the location of this plant but soon company will reveal the details. At present the company has two plants, used for car manufacturing situated in Chennai.

Addressing the big announcement, Mr. HW Park who is the MD in Hyundai Motor India commented that the company is working hard to increase the localised content in the cars used for Domestic market and with this the company is establishing the diesel engine manufacturing plant so that company can employ these diesel engines in present and future cars. He also said that Hyundai Motor India is trying to minimize the exports from and channelise the production in domestic market itself.

The allocation of domestic market by the company has increased by striking 65% for this year 2011. the company has shown a growth of 24% in the Indian Auto market apart from the fact that the exports crippled fown by 8.5% in the year 2010 with a figure of 2.47 lakh units. The fact was revealed by the director of marketing & sales, Mr Arvind Saxena Hyundai Motor India is also planning to bring a small car in the Indian Auto market which will be smaller than its existing Hyundai Santro. The production of this small car will be done at the Chennai plant. The company officials have claimed this car to be the smallest in its portfolio.

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Meenal

Meenal has been a writer since the time she knew what it is to write. Being a team lead at CarDekho, she guides her team to bring in fresh ideas and true stories to develop a brain storming news for the car enthusiasts across the world. Meenal started writing during her school and is continuing still. Being a post graduate in English Literature with Linguistics, Phonetics, and Grammar as her favorites, she topped throughout. And perhaps that's what helped her starting her career directly as an Editor with international clients from the very beginning. She also has been trained in and has got experience in pre-editing and master-editing journals and books. With almost 5 years of experience in journalism behind her, she still believes that she gets to learn new things about writing news every new day. She plans to start on another degree in psychology. Future plans for her include nothing more than a dynamic GROWTH for herself and SMILES on the readers' faces.Read more

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1 comment

plhage

Dec 29, 2010, 12:34:06 PM

Dear Sir, We would like to know Hyundai's interest in offloading /colaborating to manufacture these present Koriean engines to M/s. Greaves Cotton Ltd. We are already in Diesel manufacturing engines & produce @4L engines/year. We supply these engines to major auto players such as TATA, M&M, PVPL & others. Any query in this regard will be appreciated. Regards, Hage.P.L. 9158883041

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