The carmaker, through its Indian subsidiary Hyundai Motor
India, will also set up a battery pack assembly unit with an annual capacity of
178,000 units and install 100 EV charging stations across the state, it said in
a statement.
It plans to increase its total production volume in the
country to 850,000 per year, the company added.
Hyundai's move comes a few weeks after the federal
government said it would raise taxes on imported cars and motorbikes, including
electric vehicles (EVs), as it seeks to boost local manufacturing.
India's EV industry has grown rapidly, with domestic
carmakers Tata Motors and Mahindra & Mahindra as well as global rivals BYD
and SAIC's MG Motor lining up launches.
As of April, Hyundai has a nearly 15 percent market share in
India's passenger vehicle space, only behind Maruti Suzuki. © Reuters