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Hyundai WIA Investing In India
The company is dealing with automotive parts, heavy machinery and machine tools worldwide. The company is allied to Hyundai Motor Company and its CEO and President said that the first of these two plants will be erected in a site near Chennai at an investment of million. With prospects of laboring 100 personnel the facility will be designed to deliver 6 lakh annual units. He was the former MD for Hyundai Motor for four years and he added that the installation of these plants is directed to serve the Indian customers in a stronger base.
He further said that the company"s new plant will feed the global needs in tune with the growing auto industry. According to his speculation the next plant will be either in Tamilnadu or in the neighboring Andhra Pradesh. The proposed plants of Hyundai WIA will involve in manufacture of automobile ancillary and constant velocity joints of 4th generation genre. In future, the plant will expand with transmission, forging and casting. In all the four years of its Indian dealing the company has imported 2000 machines. Along with these plants, there will be a technical centre in Chennai and in Delhi. In the meanwhile the company may make a pact with General Motors for supplying transmissions. The company is operating the Indian business through its 4 dealers and is expecting to increase this number to ten major cities across the country.
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