Hyundai to build diesel engine factory in India
Hyundai Motor Co. will establish a factory in Tamil Nadu, a state in southern India, with an annual production capacity of 150,000 diesel engines. “If the groundbreaking of the factory can be held within the year, it will be possible that engine production will begin from 2013,” the company said. Local press reported that Hyundai has submitted a proposal to invest Rs15 billion (US$328.01 million) in the diesel engine and auto component factory. “We are looking into it and soon, a Memorandum of Understanding to this effect will be signed by the government with Hyundai,” said Tamil Nadu Industry Secretary Rajeev Ranjan. (January 24, 2011)