Shares of Hyundai Motors India Ltd were trading in the green and 1% higher on 17 June after the company announced the start of passenger car engine production at its Talegaon factory in Maharashtra.

The business informed the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) that production at the Talegaon facility, located in MIDC’s Phase-II Expansion region in Tehsil-Maval, Pune District, will begin on 16 June 2025. Hyundai stated that this move is consistent with its overall strategy to expand its manufacturing presence in India.

The company noted that this is the start of engine production and that full vehicle manufacturing at the Talegaon facility will commence later.

This factory is a critical component of Hyundai’s strategy to fulfil expanding demand in both domestic and international markets.

In 2023, the company signed an asset purchase agreement to acquire selected assets of General Motors India’s Talegaon plant in Maharashtra, completing the acquisition in January last year. The facility currently has an annual production capacity of 1.3 lakh units.

The company plans to invest in phases to upgrade the plant’s existing infrastructure and manufacturing equipment.

General Motors exited the Indian market in late 2017 after over two decades of operations as part of its global restructuring efforts. Prior to this acquisition, GM had signed an agreement to sell the Talegaon facility to China’s Great Wall Motors. However, the deal was called off last year after the Chinese automaker abandoned its India entry plans.

At 11:37 am, the shares of Hyundai Motors India were trading 0.71% higher at Rs 1,953.20 on NSE.

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