High real estate prices make the South Korean car maker look at Chennai and Hyderabad.
Hyundai Motor India Limited plans to set up its own facility at the Chennai port for parking its vehicles for shipment, a top Hyundai official said on Wednesday.
The company's new engine and transmission plant in Chennai, set up at an investment of $250 million, would have a capacity of 2.5 lakh units per annum. Overall, the company has invested $421 million on the Kappa project over a period of 48 months.
Reversing his predecessor's decision to set up a diesel engine facility in Chennai, Hyundai Motor India's new managing director and CEO Han-Woo Park on Wednesday said as of now there was no such plan.
Hyundai Motor India on Thursday said it had concluded a three-year wage agreement with its workforce, paving way for an increase in their salaries.
