Hyundai Motor India has received approval from board of directors for investment of around Rs 694 crore to establish and operate a tooling centre in India. The main area of business is manufacturing of stamping tool and panel production for vehicles.
The investment aims to stabilize Hyundai’s supply chain by complying with the project schedule through local stamping tool manufacturing and supply of panel. It will also strengthen the foundation of manufacturing by establishing infrastructure of stamping tool. The Board of Directors of the Company at their meeting held on March 24, 2025, inter-alia approved the same.
Hyundai Motor India is a wholly owned subsidiary of the Hyundai Motor company headquartered in South Korea. It is the second largest automobile manufacturer in India.