Hyundai Motor India Ltd. (HMIL) has announced plans to establish and operate a tooling centre in India, following approval from its board of directors on March 24, 2025. The company intends to invest approximately INR 6.94 billion in the facility, which will focus on manufacturing stamping tools and panel production for vehicles.
According to HMIL, the tooling centre is expected to help stabilize the supply chain by enabling local manufacturing of stamping tools and ensuring timely delivery of vehicle panels. The investment is also aimed at strengthening the company’s manufacturing infrastructure.
In addition to the investment decision, the board approved key personnel changes. M/s. BP & Associates has been appointed as the secretarial auditor for the financial year 2024-25, and Madhan Raj T N has been appointed as the internal auditor and senior management personnel, effective April 1, 2025.
The company also noted the cessation of several senior management personnel due to internal restructuring. Raja R, who served as the internal auditor, along with Jong Tae Park, Amit Kumar Dhaundiyal, Daeick Kim, and Puneet Anand, will step down from their positions at the close of business hours on March 31, 2025.