Hyundai Motor India approves investment of ₹694 crore

Automaker Hyundai Motor India Ltd on Monday (March 24) said its board has approved an investment of about Rs 694 crore to set up and operate a tooling centre in India. The facility will focus on stamping tools and panel production for vehicles. The investment is aimed at stabilising Hyundai’s supply chain by ensuring timely local production of stamping tools and panels. It will also enhance the company’s manufacturing capabilities by developing critical infrastructure for stamping tool production.

Hyundai Motor India reported a 19 per cent year-on-year decline in consolidated profit to Rs 1,124 crore for the third quarter ended December 31, 2024. Hyundai Motor India had reported a consolidated profit of Rs 1,425 crore in the same quarter of the previous fiscal. The company’s income has declined to Rs 16,648 crore as against Rs 16,875 crore in the same period of the previous financial year.