Hyundai Motor India Limited — Updates, 21-01-2025: Press Release

Hyundai Motor India Limited (HMIL) has significantly advanced its localization efforts, achieving up to 92% localization in manufacturing. Currently collaborating with over 194 vendors, HMIL sources more than 1,238 parts locally, leading to foreign exchange savings exceeding US $672 million (INR 5,678 crore) since 2019. The newly launched battery-pack assembly plant in Chennai has an initial capacity of 75,000 packs annually and is supplying the Hyundai CRETA Electric, the first model equipped with these locally assembled packs.

HMIL's localization strategy aligns with India's 'Atmanirbhar Bharat' initiative and aims to enhance the local supply chain for key components. The company has fully localized important parts and technologies, such as alternators, alloy wheels, and more, while planning to expand its network further with an upcoming manufacturing plant in Talegaon, Maharashtra. HMIL's efforts not only bolster production capabilities but also create over 1,400 direct employment opportunities, signalling a robust outlook for the company’s strategic direction in the Indian market.