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Hyundai Invests in India Diesel Engine Factory
Hyundai Motor Co.'s India unit plans to invest $300 million to erect new engine and stamping plants adjacent to its two existing assembly facilities outside the city of Chennai in southern India.
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Hyundai Motor Co.'s India unit plans to invest $300 million to erect new engine and stamping plants adjacent to its two existing assembly facilities outside the city of Chennai in southern India.
The company expects to sign a memorandum of understanding with the government of Tamil Nadu state on Monday.
Hyundai says the new factory will allow it to broaden its diesel engine options in India. Indian news reports suggest the plant will initially produce the company's 1.2-liter engine.
The popularity of diesel engines has zoomed since Indian government fuel subsidies have made diesel fuel much cheaper than gasoline.
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