Hyundai Motor India Signs MoU with Government of Maharashtra and Completes Acquisition of GM's Talegaon Plant Assets

Key Highlights

• Hyundai Motor India (HMIL) achieves a milestone in expanding production capacity to 1 million annual units through the acquisition of identified assets and land & buildings.
• Production at the Talegaon Plant is set to commence in 2025.
• The Asset Purchase Agreement (APA) includes the assignment of land and buildings and the acquisition of identified assets at General Motors India’s Talegaon Plant.
• HMIL commits to investing INR 6,000 crore in the state of Maharashtra.

Hyundai Motor India Ltd. (HMIL) has taken a significant step toward expanding its manufacturing capacity by completing the acquisition and assignment of identified assets at General Motors India's Talegaon Plant in Maharashtra. The acquisition is part of HMIL's commitment to achieving a cumulative production capacity of 1 million annual units.

Milestones and Expansion Plans

The completion of the Asset Purchase Agreement (APA) includes the assignment of land and buildings and the acquisition of identified assets at the Talegaon Plant. This move is a crucial milestone in HMIL's strategic plan to enhance its manufacturing capabilities in India.

The company plans to commence production at the Talegaon Plant in 2025, contributing to its goal of reaching a 1 million annual production capacity. The Talegaon plant currently has an existing annual production capacity of 130,000 units.

Also Read: Hyundai's Grand Vision: ₹ 33,200 Crores Investment Pushes Indian Expansion

Investment Commitment and Government Partnership

In conjunction with the acquisition, an MoU was signed between Hyundai Motor India and the Government of Maharashtra on January 18, 2024, during a ceremony in Davos. 

Shri Uday Samant, Hon’ble Minister of Industries, Government of Maharashtra, and Mr. Un Soo Kim, MD & CEO, Hyundai Motor India Ltd., were present at the signing. As part of the MoU, Hyundai Motor India commits to investing INR 6,000 crore in the state of Maharashtra.

Commenting on the acquisition, Mr. Un Soo Kim stated, "India is a very important market for Hyundai Motor Company, and we are committed to providing benchmark products and technologies to Indian customers. 

The Talegaon manufacturing plant will play a crucial role in achieving HMIL’s 1 million annual production capacity milestone. The acquisition reinforces our commitment to 'Atmanirbhar Bharat' (Self-Reliant India), making India a hub for advanced smart mobility solutions."

Strategic Investments and Upgrade Plans

Hyundai Motor India plans to make phased investments to upgrade the existing infrastructure and manufacturing equipment at the Talegaon Plant. These investments aim to align the plant with Hyundai Global Operating and Manufacturing Standards, ensuring the production of automobiles that exemplify manufacturing excellence.

About Hyundai Motor India Ltd. (HMIL)

Hyundai Motor India Ltd. is a wholly-owned subsidiary of Hyundai Motor Company and serves as India’s first smart mobility solutions provider. The company holds the distinction of being the number one car exporter since its inception. 
Operating with a robust network of 1,366 sales points and 1,550 service points across India, HMIL's model lineup includes 13 car models across segments. The company plays a vital role in HMC's global export hub, exporting to 88 countries across Africa, the Middle East, Latin America, Australia, and the Asia Pacific.