Hyundai Motor India: Hyundai Motor India Limited, which is bringing IPO next week, has announced an investment of about Rs 32,000 crore in India by 2032. The company has projected strong and stable growth in the electric vehicle market by 2030. Hyundai Motor India wants to raise up to $3.26 billion through IPO. For this, trading of shares is expected to start from October 22.

According to the IPO documents filed with SEBI, the company has signed four MoUs with the Tamil Nadu government for its Chennai manufacturing plant.

The company says, "We have also signed a Letter of Offer with the Government of Maharashtra for our Talegaon manufacturing plant, which is yet to commence operations, involving investment commitments totaling approximately INR 3,20,000 million (Rs 32,000 crores)."

EV market expected to boom by 2030

Unsoo Kim, Managing Director, of Hyundai Motor India, said EV growth will increase due to the increasing focus of various companies on the local market and strong government support.

Kim further added, "We believe the Indian EV market is expected to grow strongly and steadily until 2030, mainly due to strong leadership from the government and many OEMs focusing on this segment. Hyundai has access to global battery technology, so we are building an EV ecosystem."

Automaker Hyundai India has set a production target of 7,75,000 units for this year, up from 7,65,000 units last year.