New Plant for Hyundai Can Be Built In India

Filed under:Technology, Asian, Hyundai,
China has a very easy regulation upon all carmakers about taxes and others. Now India is going t follow the same way as China regulates. After getting this news Hyundai is expressing their new business plan on local business there.

The Economic Times has reported today that Hyundai had submitted an investment proposal to the government of Tamil Nadu. Both of them are desiring the sign will be sealed in near future.

"Hyundai has submitted a proposal to invest Rs 1,500 crore for setting up plants to make diesel engines and auto components. We are looking into it and soon an MoU to this effect will be signed by the government with Hyundai," Rajeev Ranjan, principal secretary of industries department, was quoted as saying.

Hyundai is from South Korea, and the relation between India and South Korea is ery well. At Tamil Nadu or Andhra Pradesh there Hyundai can invest more $4 million for a second plant, which will be used for engineers.