Hyundai Advances 'Atmanirbhar Bharat' with Local EV Battery Plant

Hyundai Motor India Limited is bolstering India's 'Atmanirbhar Bharat' initiative by localizing over 1,200 components and launching a new EV battery plant. Collaborating with 194 vendors, this effort has saved $672 million in foreign exchange and significantly supports India's self-reliance in the automotive sector.

Hyundai Motor India Limited (HMIL) has taken a major step in aligning with India's 'Atmanirbhar Bharat' initiative by localizing more than 1,200 essential components. The clean-energy milestone was marked with the establishment of a state-of-the-art EV battery-pack assembly plant at its Chennai facility.

This localization thrust, which has reached an impressive 92 percent in component manufacturing, involves collaboration with over 194 vendors and has realized foreign exchange savings exceeding USD 672 million (Rs 5,678 crore) since 2019. HMIL's efforts echo the thrust of the Indian government's 'Make-in-India' and 'Atmanirbhar Bharat' policies aimed at nurturing self-reliance and advancing technology within the automotive domain.

In partnership with Mobis India Limited, HMIL's newly inaugurated battery-pack plant features an initial capacity of 75,000 packs annually. It is a strategic enhancement of Hyundai's EV supply chain within the country. The Hyundai CRETA Electric becomes the first model to incorporate these locally assembled battery packs, marking a significant evolution in the company's electric vehicle strategy.

Gopalakrishnan Chathapuram Sivaramakrishnan, Whole-time Director and Chief Manufacturing Officer of HMIL, highlighted the deep alignment of their indigenization efforts with national initiatives. He emphasized the commissioning of the battery-pack assembly plant as a pivotal milestone in their localization and electric vehicle (EV) roadmap, solidifying the CRETA Electric's status as a game-changer with its locally assembled battery packs.

Beyond the battery initiative, HMIL's localization includes integrating high-tech components like the Tyre Pressure Monitoring System (TPMS), panoramic sunroof, oil coolers, and NOX sensors into the domestic production stream for the first time. As HMIL looks to reinforce its indigenized supply chain, plans are in place to extend these efforts to its upcoming facility in Talegaon, Maharashtra, furthering self-reliance in India's automotive landscape.

HMIL's localization drive not only furthers India's vision of a self-reliant economy but also generates significant employment, with over 1,400 jobs created directly from its indigenization strategy. (ANI)

(With inputs from agencies.)