Question
How much investment does Hyundai Motor India (HMIL) plan
to make in the electric vehicle (EV) space in Tamil Nadu?Solution
Hyundai Motor India (HMIL) has signed an agreement with Tamil Nadu to invest around Rs 20,000 crore over 10 years for expanding electric vehicle (EV) production and in the associated ecosystem. HMIL, India’s second largest car manufacturer, will set up a battery pack assembly unit with an annual capacity of 178,000 units. It will install 100 EV charging stations across the state in the next five years.
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