Hyundai to invest ₹1,400 crore to develop new testing tracks in Telangana
Hyundai Motor will help the Telangana government to set up a new testing track in India. The testing tracks, which will be part of the state government's proposed Mobility Valley, will see an investment to the tune of ₹1,400 crore from the Korean carmaker. Hyundai will also be one of the biggest stakeholders and a consortium partner in this initiative.
The investment announcement of ₹1,400 crore was made during a meeting between Yangzhou C, Chairman and Chief Innovation Officer at Hyundai, and KD Rama Rao, Industry and Information Technology Minister of Telangana, at an economic meeting in Davos, Switzerland.
"It is our government's endeavour to develop Telangana state into an automotive powerhouse," KD Rama Rao said while praising Hyundai's initiative to join hands. He said the Korean carmaker's presence will help to make the mobility sector in the state stronger. The minister also said that the Mobility Valley in Telangana will be a first at state level.
The details about the upcoming testing tracks at the Mobility Valley is yet to be announced officially. However, during the minister's Davos trip, German auto parts major ZF also announced that it will play a key role in the Mobility Valley project as well with deployment of up to 3,000 employees.
In India, several vehicle manufacturers have their own testing tracks at or near their key facilities. Hyundai Motor too has its own testing track in Tamil Nadu, where it has its manufacturing base. Mahindra and Mahindra, which is based near Chennai has its own high-speed testing tracks at the Mahindra Valley. The biggest of the testing tracks in India is located in Pithampur near Indore. The National Automotive Test Tracks, which is also known as NATRAX, is a high-speed four-lane 11.3 kms track which allows speeds of up to 375 kmph.