Located in the Talegaon Industrial Area near Pune, the plant is now operational for engine manufacturing, with full-scale passenger vehicle production expected to follow. Hyundai stated that a separate intimation will be made once vehicle assembly begins at the site.
The company had in 2023 signed an asset purchase agreement to acquire and assign identified assets related to General Motors India’s Talegaon plant in Maharashtra, and the acquisition was completed in January last year. The Talegaon plant has an existing annual production capacity of 1.3 lakh units.
The company said it intends to make phased investments for the purpose of upgrading the existing infrastructure and manufacturing equipment at the Talegaon plant.
After more than two decades of operations in India, General Motors stopped selling cars in the country from 2017-end, as part of its global restructuring actions.
General Motors had earlier inked a pact to sell the plant to Chinese carmaker Great Wall Motors. However, the agreement fell through last year as the Chinese carmaker called off plans to enter the Indian market.
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Shares of Hyundai Motor India Ltd ended at ₹1,938.10, down by ₹2.45, or 0.13%, on the BSE.
(Edited by : Shoma Bhattacharjee)
