Hyundai, an automotive manufacturer, has received approval from the Telangana government to establish a research and development centre in the National Investment and Manufacturing Zone (NIMZ), Zaheerabad. The project involves an investment of INR 85.28 billion and is expected to create 4,276 jobs.
The proposed Hyundai Global Innovation Research and Development Centre will span 675 acres and include facilities such as an automotive test track, pilot line, and prototyping systems, according to company representatives. The decision was approved during a meeting of the Industrial Promotion Sub-Committee held at Praja Bhavan.
Deputy Chief Minister Mallu Bhatti Vikramarka, Industries Minister D Sridhar Babu, and Information Minister Ponguleti Srinivasa Reddy were present at the meeting. Vikramarka directed officials to prioritise proposals likely to attract ancillary industries and increase employment. He also informed officials that industrial and investment promotion meetings will be conducted every Saturday going forward.
According to Industries Minister Sridhar Babu, the industries currently being initiated will provide large scale employment and revenue for the state in the coming years.
The committee also reviewed the status of ongoing industrial projects and proposals for new units. Officials were instructed to focus on projects that could generate employment and boost state revenues through the development of related industries.
Hyundai Motor India Ltd (HMIL), through its subsidiary Hyundai Motor India Engineering Pvt Ltd, currently operates a research and development centre in Hyderabad, Telangana, located on 15 acres of company-owned land. The newly approved R&D facility in Zaheerabad is being developed by parent company Hyundai Motor Co and may be viewed as an expansion of HMIL’s existing operations in the state.
According to previous statements from the company, the Hyderabad R&D centre collaborates with Hyundai Motor Co’s central R&D hub in Namyang, South Korea. The Hyderabad facility is being expanded to serve as the global research hub for compact passenger vehicles.
India is Hyundai Motor Co’s third-largest market by volume after North America and South Korea. The company has stated that it plans to position India as its primary global export base outside South Korea, with one-fourth of the planned 1 million-unit capacity addition expected to come from its Indian operations.
Hyundai operates in the automotive sector with activities including vehicle manufacturing, research, and development. The company has a presence in multiple global markets and engages in a range of innovation and production initiatives.