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Hyundai to invest 1,400 cr in Telangana
Telangana has received another huge investment.
Hyderabad: Telangana has received another huge investment. Hyundai Group has announced a massive investment of Rs 1,400 crore in the State during the annual World Economic Forum in Davos, Switzerland. This announcement came after Telangana IT and Industries Minister KT Rama Rao met Dr Chi Youngcho, President and CIO of Hyundai Motor Group at Telangana Pavilion.
On the occasion, he said: "This investment by Hyundai Motor Group will be made in the first of its kind 'New Mobility Valley' created by the Telangana government. The company has agreed not only to invest but also to be a partner in the Mobility Valley. With this investment, the company will set up test tracks as well as other infrastructure required by the ecosystem. Apart from this, KTR also discussed at length about other opportunities to work with the Telangana government. He said that Hyundai's investment in the mobility sector of the State would give great strength. For the first time in the country, the State government will set up a special Mobility Valley. The minister thanked Hyundai Motor Group for coming forward to be a partner in this initiative.
He said that the government would extend full support to the company, which has come forward to invest Rs 1,400 crore in the State. With the arrival of Hyundai, he expressed hope that more investments will come to Telangana in the field of mobility.
