Hyundai Motor India Limited (HMIL), India’s first smart mobility solutions provider and the largest exporter since inception, today signed a ‘Term Sheet’ for the potential acquisition of identified assets related to General Motors India, Talegaon Plant, Maharashtra.
The Term Sheet covers the proposed acquisition of (i) Land & Buildings and (ii) Certain machinery and equipment for manufacturing situated at General Motors India, Talegaon Plant. The proposed acquisition is subject to the signing of the ‘Definitive Asset Purchase Agreement’ and fulfillment of conditions precedent and receipt of regulatory approvals from relevant Government Authorities and all the stakeholders related to the acquisition.
About HMIL
Hyundai Motor India Limited (HMIL) is a wholly-owned subsidiary of Hyundai Motor Company (HMC). HMIL is India’s first smart mobility solutions provider and the number one car exporter since its inception in India. It currently has 12 car models across segments GRAND i10 NIOS, All New i20, i20 N Line, AURA, VENUE, VENUE N Line, Spirited New VERNA, All New CRETA, ALCAZAR, New TUCSON, KONA Electric and All Electric SUV IONIQ 5. HMIL’s fully integrated state-of-the-art manufacturing plant near Chennai boasts advanced production, quality, and testing capabilities.
HMIL forms a critical part of HMC’s global export hub. It currently exports to around 85 countries across Africa, the Middle East, Latin America, Australia, and Asia Pacific. To support its growth and expansion plans, HMIL currently has 1 333 sales points and more than 1 494 service points across India. In its commitment to providing customers with cutting-edge global technology, Hyundai has a modern multi-million-dollar R&D facility in Hyderabad. The R&D center’s endeavor is to be a center of excellence in automobile engineering.
