$672 million saved in forex with 92% localisation, Hyundai Motor says at Bharat Mobility Global Expo 2025
New Delhi: Hyundai Motor India on Tuesday announced that it has achieved up to 92% localisation in manufacturing, engaging over 194 vendors to source more than 1,200 parts, according to media reports.
The company has also commenced sourcing locally-assembled battery packs for the new Creta Electric.
As part of its indigenisation efforts, Hyundai showcased a dedicated localisation zone at the Bharat Mobility Global Expo 2025.
The carmaker claimed that its localisation initiatives have resulted in forex savings of USD 672 million (over Rs 5,800 crore) since 2019 and created direct employment opportunities for over 1,400 people.
HMIL commits to #AtmanirbharBharat by localizing 1,238 parts and EV battery-packs, thereby achieving up to 92% localization in manufacturing, forex savings of US $672 Mn+ since 2019, and providing direct employment opportunity to over 1,400 people.#MakeInIndia #BharatMobility pic.twitter.com/UbCInYBr0N
— Hyundai India (@HyundaiIndia) January 21, 2025
"Hyundai's indigenisation efforts are deeply in sync with the government of India's 'Atmanirbhar Bharat' and 'Make-in-India' initiatives, and our localisation strategy strives to constantly leverage India's rich resources, skilled workforce and advanced engineering prowess, to develop world-class technology domestically," Gopalakrishnan CS, Whole-time Director and Chief Manufacturing Officer of Hyundai Motor India was quoted as saying by India Today.
"Commissioning of the Hyundai and Mobis India's battery-pack assembly plant is a key milestone in our localisation and EV roadmap. The Hyundai Creta Electric becomes the first Hyundai EV manufactured in India to come equipped with battery-packs assembled at this very plant, making it a true game-changer," he added.
Hyundai and Mobis India have commenced operations at their battery-pack assembly plant located within Hyundai's manufacturing facility in Chennai, Tamil Nadu.
In its initial phase, the plant has an annual assembly capacity of 75,000 battery packs and is capable of assembling various types of batteries, including NMC (lithium-nickel-manganese-cobalt oxide) and LFP (lithium-iron-phosphate) batteries.
This facility aims to optimise battery costs and ensure a steady supply of batteries for Hyundai’s electric vehicles manufactured in India.
The company has achieved 100% localisation for key components such as alternators, alloy wheels, disc brakes, catalytic converters, clutch assemblies, shark fin antennas, and reverse parking assist sensors.
Furthermore, advanced parts like tyre pressure monitoring systems (TPMS), panoramic sunroofs, inflators, oil coolers, and NOX sensors have been successfully localised for the first time in India.
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