Hyundai Motor signs deal for GM's Talegaon plant
Financial Express Mumbai|August 17, 2023
The country's second largest passenger vehicle manufacturer, Hyundai Motor, on Wednesday signed an asset purchase agreement for the acquisition and assignment of assets related to General Motors India's Talegaon plant in Pune, paving the way for hiking its annual production output to 1 million units.
SWARAJ BAGGONKAR
Hyundai Motor signs deal for GM's Talegaon plant

Unsoo Kim, managing director and CEO, Hyundai Motor India and Asifhusen Khatri, vice president manufacturing, General Motors India and General Motors International Operations, participated in the signing ceremony in Gurugram, Haryana.

The agreement covers the acquisition and assignment of land and buildings as well as certain machinery and manufacturing equipment of the plant. Leveraging the expanded capacity, Hyundai will review plans to launch additional electric vehicle models into the Indian market, manufactured at its Chennai plant.

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