New Delhi [India], January 21 : Hyundai Motor India Limited (HMIL) reaffirmed its commitment to India's 'Atmanirbhar Bharat' initiative by localizing over 1,200 key components and launching locally assembled EV battery packs at its state-of-the-art plant in Chennai.
The company's indigenization efforts have resulted in a remarkable 92 per cent localization in manufacturing, marking a significant step toward reducing reliance on imports while bolstering the domestic automotive ecosystem.
HMIL's Localization Team, working with more than 194 vendors, currently sources over 1,238 parts, contributing to substantial foreign exchange savings of over USD 672 million (Rs 5,678 crore) since 2019.
The company's continued focus on localization is a testament to its alignment with the Indian government's 'Make-in-India' and 'Atmanirbhar Bharat' campaigns, aimed at fostering self-reliance and technological prowess in the automotive sector.
One of the standout developments is the establishment of a cutting-edge battery-pack assembly plant, set up in collaboration with Mobis India Limited within HMIL's Chennai manufacturing facility.
The plant, which boasts an annual assembly capacity of 75,000 battery packs in its first phase, is pivotal for enhancing the supply chain for Hyundai's electric vehicles (EVs) produced in India.
The Hyundai CRETA Electric, which becomes the first model to feature locally assembled battery packs, is a significant milestone in the company's localization and electric vehicle roadmap.
The move not only optimizes battery costs but also ensures a reliable and steady supply of battery packs for Hyundai's expanding portfolio of EVs manufactured in India.
Gopalakrishnan Chathapuram Sivaramakrishnan, Whole-time Director and Chief Manufacturing Officer of HMIL, expressed, "HMIL's indigenization efforts are deeply in sync with Government of India's 'Atmanirbhar Bharat' and 'Make-in-India' initiatives, and our localization strategy strives to constantly leverage India's rich resources, skilled workforce and advanced engineering prowess, to develop world-class technology domestically."
He added, "Commissioning of the HMIL and Mobis India Limited's battery-pack assembly plant is a key milestone in our localization and EV roadmap. The Hyundai CRETA Electric becomes the first Hyundai EV manufactured in India to come equipped with battery-packs assembled at this very plant, making it a true game-changer."
In addition to the new EV battery assembly plant, HMIL's localization efforts have successfully brought essential high-tech components, such as the Tyre Pressure Monitoring System (TPMS), panoramic sunroof, oil coolers, and NOX sensors, into the local manufacturing fold for the first time in India.
As HMIL looks to further deepen its commitment to an indigenized supply chain, the company plans to expand its efforts at its upcoming manufacturing facility in Talegaon, Maharashtra, reinforcing the goal of driving more self-reliance in the Indian automotive sector.
HMIL's concerted push for localization not only contributes to the government's vision for a self-sustained economy but also creates substantial employment opportunities, with over 1,400 people directly employed through its indigenization strategy.
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