Hyundai Motor India Signs 'Asset Purchase Agreement' for Acquisition of Identified Assets at GM India Talegaon Plant

The APA covers the acquisition and assignment of land and buildings as well as certain machinery and manufacturing equipment situated at GMI's Talegaon plant. The completion of the acquisition and assignment is subject to fulfilment of certain conditions precedent and receipt of regulatory approvals from relevant government authorities and relevant stakeholders. The APA covers the acquisition and assignment of land and buildings as well as certain machinery and manufacturing equipment situated...

The APA covers the acquisition and assignment of land and buildings as well as certain machinery and manufacturing equipment situated at GMI's Talegaon plant. The completion of the acquisition and assignment is subject to fulfilment of certain conditions precedent and receipt of regulatory approvals from relevant government authorities and relevant stakeholders.

Announcing the APA signing, Unsoo Kim, Managing Director and CEO of HMIL said, "This year is a significant milestone for Hyundai Motor India, as we celebrate 27 years of activity in the market. Demonstrating our dedication to India, earlier this year, HMIL entered into a Memorandum of Understanding (MoU) to invest INR 20,000 crore in Tamil Nadu for expanding capacity and establishing an electric vehicle ecosystem. As we reinforce our commitment to 'Atmanirbhar Bharat' (Self-Reliant India), we intend to create an advanced manufacturing center for cars made in India in Talegaon, Maharashtra. Our manufacturing operations are scheduled to begin in Talegaon, Maharashtra, in 2025."

More information about Hyundai Motor and its products can be found at: 
https://www.hyundai.com/worldwide/en/ or
https://www.hyundai.com/worldwide/en/company/newsroom.release.all.latest

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