Hyundai To Invest Rs 1,400 Crore In Telangana

Telangana has landed another large investment. Hyundai Group's representatives met IT and Industries Minister KTR on the sidelines of the WEF (World Economic Forum) meetings, and announced a massive investment of Rs 1,400 crore in the State.

Hyundai CIO Young Cho Chi met KTR at the Telangana Pavilion in Davos. On this occasion, the minister said this investment will be made in the mobility cluster being set up by the state. The company has agreed not only to invest but also be a partner in the Telangana Mobility Valley being set up by the State government.

With this investment, the company will set up test tracks along with other infrastructure required by the ecosystem. Apart from this, other opportunities to work with the state government were also discussed at length.

KTR said that Hyundai’s investment in the mobility sector in the State would give great strength. The minister said that he would extend full support to Hyundai which has come forward to invest Rs 1,400 crore in Telangana.

KTR expressed hope that with the arrival of Hyundai, more investments will come to Telangana in the mobility sector.