Hyundai Motor is planning to set up USD 300 million in Sriperumpudur plant near Chennai to set up a engine manufacturing unit. The company has signed an MoU with the state government of Tamil Nadu for the project. Apart from diesel engine plant it will also set up a press shop for its new upcoming models.
|Project Location : Sriperumpudur, Tamil Nadu|
|Project Capacity :|
Hyundai plans local production of Santa Fe, considering the huge price difference in the SUV segment from Ford Endeavour/Toyota Fortuner etc., Hyundai introduced the model in early 2010 and has to close bookings in the mid year. Local assembly will help to reduce cost from 60% import duty for CBU units compared to 10% for CKD kits. Currently, the car Santa Fe is undergoing homologation duties at ARAI in Pune. The company hopes to sell 600-800 units of Santa Fe in 2011.