Ad
Ad
Hyundai invested ₹6,180 crore in Tamil Nadu for establishing the Hydrogen Resource Centre with IIT-Madras, advancing green technology and fostering economic growth.
Hyundai to Establish Hydrogen Resource Centre in Tamil Nadu in Collaboration with IIT-Madras
In a significant boost to Tamil Nadu's automotive landscape and commitment to sustainable technologies, Hyundai Motor India has announced an additional investment of ₹6,180 crore in the state. This comes on top of the previously declared ₹20,000 crore investment over the next decade, starting in 2023, focused on advancing the manufacturing of the electric vehicle, charging infrastructure, and skill development.
A pivotal aspect of the fresh investment is the allocation of ₹180 crore towards establishing a dedicated Hydrogen Valley Innovation Hub in collaboration with the prestigious IIT-Madras. This initiative aims to create a Hydrogen Resource Centre, functioning as an incubation cell for developing a framework for the localization of the hydrogen ecosystem. Hyundai visualizes this collaboration as a catalyst for cultivating a robust hydrogen technology ecosystem, reflecting the company's commitment towards sustainability and a green future.
The Memorandum of Understanding (MoU) sealing this landmark investment was signed between Hyundai and the state government of Tamil Nadu in the presence of the Chief Minister MK Stalin and the Union Minister of Commerce and Industry Piyush Goyal. Unsoo Kim, MD and CEO of Hyundai Motor India, emphasized that this substantial investment is a testament to the company's enduring commitment for fortifying the state's pursuit of socio-economic development and self-reliance.
The collaboration with IIT-Madras aims not only to bolster the local economy but also to generate employment and support skill development in the region. Hyundai's strategic move into hydrogen technology aligns with the global trend towards diversifying of the powertrains, exemplified by their hydrogen fuel cell SUV, Nexo, showcased at the Tamil Nadu Global Investors Meet.
As Hyundai Executive Director Tarun Garg highlighted in a recent press interaction, the company's strategy would adapt to the market trends. While Hyundai presently offers a range of powertrains, including petrol, diesel, CNG, and battery technology, the future could also witness further diversification based on the evolving preferences of the customer and the policies by the government.
Also Read: VinFast's $2 Billion Investment in Tamil Nadu: A Game-Changer in India's EV Landscape
Hyundai's substantial investment in Tamil Nadu not only underscores its commitment to sustainable and green technologies but also positions the state as a hub for hydrogen innovation. The establishment of the Hydrogen Resource Centre in collaboration with IIT-Madras is expected to usher in a new era of technological advancement, employment opportunities, and skill development in the region, solidifying Hyundai's role in shaping the future of the Indian automotive industry.
Ad
Ad
Ducati DesertX Rally Version Launched in India at Rs 23.7 Lakh
The Ducati DesertX Rally Version debuts in India at Rs 23.7 Lakh. Featuring premium Kayaba suspension, 48mm forks, high ground clearance, and shared electronics, it's set to dominate the adventure bike arena.
01-May-2024 10:04 AM
Read Full NewsDucati DesertX Rally Version Launched in India at Rs 23.7 Lakh
The Ducati DesertX Rally Version debuts in India at Rs 23.7 Lakh. Featuring premium Kayaba suspension, 48mm forks, high ground clearance, and shared electronics, it's set to dominate the adventure bike arena.
01-May-2024 10:04 AM
Read Full NewsTata Motors Register 11.5 Percent Growth; Sells More Than 75000 Units in April 2024
Tata Motors reports a robust 11.5% sales growth in April 2024, marking a significant increase of 7922 units compared to the same period last year. With 11.5% growth, the automaker continues to demonstrate strong performance in the market.
01-May-2024 10:02 AM
Read Full NewsTata Motors Register 11.5 Percent Growth; Sells More Than 75000 Units in April 2024
Tata Motors reports a robust 11.5% sales growth in April 2024, marking a significant increase of 7922 units compared to the same period last year. With 11.5% growth, the automaker continues to demonstrate strong performance in the market.
01-May-2024 10:02 AM
Read Full News2024 Bajaj Pulsar NS400 Launch on 3rd May, New Teaser Out; Details
Bajaj Auto's eagerly awaited Bajaj Pulsar NS400, set for launch on May 3rd, is poised to be the flagship of the Pulsar lineup. Derived from the Dominar 400, it boasts USD front forks, dual-channel ABS with multiple modes, and an updated digital instrument cluster with Bluetooth connectivity and turn-by-turn navigation. Powered by a retuned 373cc engine, it promises a blend of power and refinement.
01-May-2024 08:48 AM
Read Full News2024 Bajaj Pulsar NS400 Launch on 3rd May, New Teaser Out; Details
Bajaj Auto's eagerly awaited Bajaj Pulsar NS400, set for launch on May 3rd, is poised to be the flagship of the Pulsar lineup. Derived from the Dominar 400, it boasts USD front forks, dual-channel ABS with multiple modes, and an updated digital instrument cluster with Bluetooth connectivity and turn-by-turn navigation. Powered by a retuned 373cc engine, it promises a blend of power and refinement.
01-May-2024 08:48 AM
Read Full NewsList of Upcoming Two-Wheelers in May 2024
May 2024 introduces new two-wheelers, from powerful motorcycles to eco-friendly scooters, promising advanced tech and performance. With launches like the Bajaj NS 400 and Hero Xoom series, riders have more options to enhance their ride.
30-Apr-2024 12:31 PM
Read Full NewsList of Upcoming Two-Wheelers in May 2024
May 2024 introduces new two-wheelers, from powerful motorcycles to eco-friendly scooters, promising advanced tech and performance. With launches like the Bajaj NS 400 and Hero Xoom series, riders have more options to enhance their ride.
30-Apr-2024 12:31 PM
Read Full News2024 Skoda Slavia and Kushaq Launched in India; 6 Airbags is Now a Standard Offering; Check Details
Skoda introduces updated Slavia and Kushaq with standard six airbags, reinforcing safety. Both models scored 5 stars in global NCAP tests. Available in three trims and two engine options, they offer versatility. Features remain consistent with previous models, including ambient footwell lighting and adjustable front seats. Pricing starts attractively, making them compelling options in their respective segments.
30-Apr-2024 12:26 PM
Read Full News2024 Skoda Slavia and Kushaq Launched in India; 6 Airbags is Now a Standard Offering; Check Details
Skoda introduces updated Slavia and Kushaq with standard six airbags, reinforcing safety. Both models scored 5 stars in global NCAP tests. Available in three trims and two engine options, they offer versatility. Features remain consistent with previous models, including ambient footwell lighting and adjustable front seats. Pricing starts attractively, making them compelling options in their respective segments.
30-Apr-2024 12:26 PM
Read Full NewsAmpere Nexus Launched in India; Runs at 93 Kmph Top Speed; Details
Ampere's debut in the premium electric scooter segment, the Nexus, sets a new benchmark with its high-performance capabilities and innovative features. With a sleek design and vibrant colour options, it offers a distinctive appeal. Packed with advanced technology like LED lights, a touchscreen display, and turn-by-turn navigation, the Nexus promises an exhilarating ride experience. Starting at Rs. 1.10 lakh, it's a compelling choice for electric mobility enthusiasts.
30-Apr-2024 08:41 AM
Read Full NewsAmpere Nexus Launched in India; Runs at 93 Kmph Top Speed; Details
Ampere's debut in the premium electric scooter segment, the Nexus, sets a new benchmark with its high-performance capabilities and innovative features. With a sleek design and vibrant colour options, it offers a distinctive appeal. Packed with advanced technology like LED lights, a touchscreen display, and turn-by-turn navigation, the Nexus promises an exhilarating ride experience. Starting at Rs. 1.10 lakh, it's a compelling choice for electric mobility enthusiasts.
30-Apr-2024 08:41 AM
Read Full NewsAd
Ad
Skoda Slavia
₹ 11.63 - 18.83 Lakh
Skoda Kushaq
₹ 11.99 - 19.79 Lakh
Mahindra XUV 3XO
₹ 7.49 - 15.49 Lakh
BMW i5
₹ 1.2 Cr
Jeep Wrangler facelift
₹ 67.65 - 71.65 Lakh
Force Five-door Gurkha
₹ 15.50 - 16.00 Lakh
Hyundai Staria
₹ 1.00 Cr
Lexus UX
₹ 40.00 Lakh
MG RC6
₹ 18.00 Lakh
Fisker Ocean EV
₹ 80.00 Lakh - 1.00 Crore
Ad
Ad
Ad