The investment will aid the state in setting up the proving grounds at their upcoming project. Hyundai will become a stakeholder and a consortium partner in the unprecedented ‘Mobility Valley’.
The investment was announced by Hyundai President Youngcho Chi during a meeting with Minister for Industries and IT, KT Rama Rao, at the Telangana Pavilion, Davos, Switzerland. Several other joint efforts were likewise examined, the company said in a press release.
KT Rama Rao, affirming that Telangana is the first state to set up a mobility valley, commented that Hyundai’s presence will further solidify the mobility sector in the state.
“It’s our government’s endeavour to develop Telangana state into an automotive powerhouse,” the minister added.