Hyundai Motor India Invests ₹694 Crore in Tooling Centre to Boost Manufacturing!

Hyundai Motor India Limited has announced a significant investment of ₹694 crore for the development of a new tooling centre, aimed at fabricating car panels and stamping tools. This initiative is part of the company’s strategy to enhance its domestic manufacturing capabilities and solidify its manufacturing base within India.

The tooling centre will play a pivotal role in ensuring consistent quality and precision in mass manufacturing, which is essential for meeting the strict tolerances required for modern automobile production. Tooling is a crucial aspect of manufacturing that ensures high levels of efficiency and product consistency, thus contributing to the overall performance of the company’s vehicles.

While China has dominated the tooling industry due to government subsidies, lower labor costs, and substantial infrastructure investments, Hyundai’s new venture aims to bridge the gap in India’s manufacturing sector, which has traditionally faced challenges like infrastructure bottlenecks, fragmented supply chains, and a lack of advanced tooling know-how compared to countries like China, the US, and Germany.

In addition to this investment, Hyundai has made leadership changes, appointing Madhan Raj T N as the new internal auditor. M/s BP & Associates has also been appointed as the secretarial auditor for the financial year 2024-25, signaling continued strategic and operational shifts within the company. This investment and leadership restructure are expected to strengthen Hyundai’s position in the competitive global automotive market.