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To boost its production efficiency Hyundai Motor India has acquired the Talegon plant of General Motors. According to the company sources, it has signed an Asset Purchase Agreement (APA) with General Motors to acquire its Talegaon plant. By acquiring this plant, the company wants to increase its production capacity to 10 lakh units per year. The company sources also added that the plant will start operating from 2025.

 

 

The acquisition of GM’s production plant is a part of the Korean car maker’s strategy to explore its production activities in India. At present, the company operates its production activities from Sriperambudur near Chennai. In a press note released by the company, the new production unit will play a major role in the manufacturing the electric vehicles in the country. Commenting on the agreement with GM, Unsoo Kim, Managing Director and CEO, of Hyundai Motor India Ltd, said, "This year is a significant milestone for Hyundai Motor India, as we celebrate 27 years of activity in the market. Demonstrating our dedication to India, earlier this year, HMIL entered into a Memorandum of Understanding (MoU) to invest INR 20,000 crore in Tamil Nadu for expanding capacity and establishing an electric vehicle ecosystem. As we reinforce our commitment to ‘Atmanirbhar Bharat’ (Self-Reliant India), we intend to create an advanced manufacturing centre for cars Made-in-India in Talegaon, Maharashtra. Our manufacturing operations are scheduled to begin in Talegaon, Maharashtra, in 2025”.

 

Moving ahead, he also added that the Talegaon production plant has the efficiency of manufacturing 130,000 units annually. The company wants to extend this production capacity. The carmaker said that it has already increased its production efficiency to 8.20 lakh units from 7.50 lakh units annually. The acquisition of the Talegaon plant will further extend this number. The carmaker also added that it will upgrade the infrastructure and manufacturing equipment in phases.