Hyundai Motor India Limited (HMIL) has made a bold move to strengthen its manufacturing capabilities in India, approving a Rs 694 crore investment for the establishment of a new Tooling Centre. This investment will focus on the production of stamping tools and vehicle panels, crucial elements in bolstering Hyundai’s local production and supply chain stability. The Tooling Centre will enhance the company’s manufacturing infrastructure, ensuring the precision and consistency required for modern vehicle production.
In the automotive world, tooling refers to the specialized equipment, molds, dies, jigs, fixtures, and cutting instruments used to create vehicle parts. This process is essential for mass production, allowing for high-quality and precise components. While countries like China lead the global tooling industry due to their vast infrastructure, lower labor costs, and government support, India is still developing its tooling sector. Despite having a growing manufacturing base, India faces challenges such as infrastructure limitations and fragmented supply chains, though initiatives like “Make in India” aim to close the gap by focusing on targeted investments and skills development.
Along with this strategic investment, Hyundai India has also announced changes in its leadership. Madhan Raj T N has been appointed the new Internal Auditor for the company. A chartered accountant with over 25 years of experience, including 19 years specializing in internal audits, Madhan will play a key role in the company’s financial oversight. In addition, M/s. BP & Associates has been named as the Secretarial Auditor for the fiscal year 2024-25.
Hyundai, a subsidiary of Hyundai Motor Company, has been a key player in the Indian automotive market since 1996. With its wide array of vehicles ranging from hatchbacks to SUVs and electric models, Hyundai India has established a strong presence in the country. Its portfolio includes popular models such as the Grand i10 Nios, i20, Verna, Creta, and electric vehicles like the Kona Electric and Ioniq 5. The company’s manufacturing plant in Sriperumbudur, Tamil Nadu, serves both domestic and export markets.
Beyond vehicle production, Hyundai is committed to sustainability through its electric mobility initiatives and investments in charging infrastructure. The company also continues to engage in corporate social responsibility efforts, focusing on education, healthcare, and environmental sustainability.
This significant investment and leadership transition marks a new chapter in Hyundai’s continued growth and innovation in India.
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