Hyundai to Invest INR 1400 Crore in Telangana
May 27, 2022, 08:22 IST
Giving a major boost to the Mobility Sector in the State, Hyundai announced an investment of Rs. 1,400 Crores in the upcoming Telangana Mobility Valley. Hyundai will be setting up proving grounds (Test tracks) in Telangana Mobility Valley.
Hyundai will be a stakeholder and a consortium partner in the first of its kind New Mobility Valley created by the Telangana Government.
The announcement was made during a meeting of Hyundai President & CIO YoungCho Chi with KTR at Telangana Pavilion in Davos. Various collaborations were also discussed in the meeting.
KTR stated that the presence of Hyundai will further strengthen the Mobility sector in the State. He added that Telangana is the first state to set up a Mobility Valley and thanked Hyundai for becoming a part of the Mobility Valley.
KTR assured the leadership team of Hyundai of providing complete support from the Govt. of Telangana in setting up of their proving grounds. “It is our government’s endeavor to develop Telangana state into an automotive powerhouse,” he said.
IT Department Principal Secretary Jayesh Ranjan & Chief Relations Officer Amarnath Reddy were present in the meeting.
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