Telangana CM meets officials of Hyundai Motor in South Korea to attract investment
Aug 13, 2024
Hyderabad (Telangana) [India], August 13 : Telangana Chief Minister Revanth Reddy, accompanied by IT and Industries Minister Sridhar Babu, met with officials of Hyundai Motor in South Korea's Seoul on Monday to attract investments for boosting the state's economy.
During the meeting, CM Reddy said, "Telangana state government has actively been focussing on major investment opportunities by global giants. Hyundai Motor Company had planned investments into setting up a car testing facility in Telangana through its subsidiary Hyundai Motor India Engineering Pvt Ltd. (HMIE)."
"Telangana State's industry-friendly policies, progressive and futuristic vision in creating a world-class infrastructure and providing hassle-free permission systems have enabled best-in-class companies like HMIE to do business in Telangana," he added.
After the talks with the CM and IT and Industries Minister, the South Korean automotive giant, through its Indian arm Hyundai Motor India Engineering Pvt Ltd. (HMIE), plans to establish a large Mega Test Center in Telangana. The Mega Test Centre will include not only an automated test track facility but also a state-of-the-art test car manufacturing facility (including EVs).
The Mega Test Centre is likely to attract other affiliates and suppliers to set up their facilities in the vicinity. This will help to create both direct and indirect employment opportunities.
Moreover, Hyundai Motor India Engineering Pvt Ltd., is expanding by renovating and modernising the existing engineering centre in Hyderabad to create more employment for India and Asia-Pacific region.
HMIE said, "India is a very important market, and we are committed to developing benchmark setting products and technologies for Indian customers. HMIE is thankful and would like to express their gratitude to CM Telangana, for providing this opportunity to develop state-of-the-art testing facilities.
This investment underscores HMIE's commitment to India and CM Reddy's vision for a sustainable future for the state.
