New Delhi: Auto parts maker Hyundai WIA, an independent unit of Hyundai Motor Group on Thursday said the company’s Sriperumbudur plant in Tamil Nadu would start production by March this year to begin its India operations.
The firm is investing $10 million and another plant would come up in future but the location is yet to be finalized, an official said.
The South Korean firm manufactures automobile engines, machine tools and heavy machinery.
“Although we have been providing our products to clients in India for the last four years, the setting up of this manufacturing unit will strengthen our position in the country. India is fast emerging as the global hub for the automotive industry,” said Hyundai WIA president & CEO H.S. Lheem.
The firm is planning to expand its overseas dealer networks, especially in South America and South-east Asia including India.