K M Dayashankar
HYDERABAD, AUGUST 12, 2024: Chief Minister of Telangana Anumula Revanth Reddy accompanied by IT and Industries Minister Duddilla Sridhar Babu are on an official visit to South Korea to attract investments to boost the state economy. As a part of the visit, they met with Hyundai Motor Company officials in Seoul, South Korea on Monday.
During the meeting, the Chief Minister said, “Telangana state government has actively been focusing on major investment opportunities by global giants. Hyundai Motor Company had planned investments into setting up a car testing facility in Telangana through its subsidiary Hyundai Motor India Engineering Pvt Ltd. (HMIE). Telangana State’s industry-friendly policies, progressive and futuristic vision in creating a world-class infrastructure and providing hassle-free permission system has enabled best-in-class companies like HMIE to do business in Telangana.”
After the talks with the Chief Minister and IT and Industries Minister, the South Korean automotive giant, through its Indian arm Hyundai Motor India Engineering Pvt Ltd. (HMIE), plans to establish a large Mega Test Center in Telangana. The Mega Test Center will include not only an automotive test track facility but also a state-of-the-art test car manufacturing facility (including EVs).
The Mega Test Center is likely to attract other affiliates and suppliers to set up their facilities in the vicinity. This will help to create both direct and indirect employment opportunities.
Moreover, Hyundai Motor India Engineering Pvt Ltd. is expanding by renovating and modernizing the existing engineering centre in Hyderabad to create more employment for India and the Asia Pacific region.
HMIE said, “India is a very important market, and we are committed to developing benchmark-setting products and technologies for Indian customers.
HMIE is thankful and would like to express its gratitude to the Hon’ble Chief Minister of Telangana State, Mr. Revanth Reddy Garu, for providing this opportunity to develop state-of-the-art testing facilities.
This investment underscores HMIE’s commitment to India and the Chief Minister’s vision for a sustainable future for the state.”
