CURRENT AFFAIRS

Detailed explanation-1: -Hyundai Motor plans to invest Rs 7,000 crore to increase its production at Sriperumbudur facility, that would help create 700 new jobs.

Detailed explanation-2: -So Hyundai India has announced a Rs 4000 CR investment which will help them launch affordable and premium electric models, including SUV’s and sedans, in India starting 2022. Tarun Garg, director sales and marketing for Hyundai Motor India, said, “We want to be a key contributor to the EV story in India.

Detailed explanation-3: -Hyundai Motor India Limited (HMIL) is a wholly-owned subsidiary of Hyundai Motor Company (HMC), South Korea and is the largest passenger car exporter and the second largest car manufacturer in India. Hyundai started the construction of the plant in the year 1996.

Detailed explanation-4: -Hyundai Motor India Ltd (HMIL) stated on Thursday that it will increase prices across its model range from January 2023. It said that the price hike is due to an increase in input cost. The company said that it continues to absorb rising costs but will pass on a part of the input cost to customers.