"Hyundai Collaborates with IIT-M to Establish Hydrogen Innovation Hub, Allocates ₹180 Crore"

Hyundai Motor India Ltd, the country's second-largest carmaker, has inked an agreement with the Indian Institute of Technology Madras (IIT-M) to establish a dedicated 'Hydrogen Valley Innovation Hub.' The collaboration comes with a significant investment of ₹180 crore, with the overarching goal of contributing to the global transition toward a Hydrogen Society, making hydrogen accessible for diverse applications.

According to a statement, the innovation hub will function as an incubation cell, playing a pivotal role in developing a localized framework for the hydrogen ecosystem. The initiative not only aims to propel the adoption of hydrogen technology but is also expected to generate employment opportunities and support skill development in the region.

Unsoo Kim, Managing Director and CEO of Hyundai Motor India Ltd, shared insights during the Tamil Nadu Global Investors Meet, revealing the company's commitment to invest ₹6180 crore in Tamil Nadu. This additional investment is part of Hyundai's ongoing efforts, with ₹20,000 crore set aside last year to bolster activities related to electric vehicle manufacturing, charging infrastructure, and skill development.

Over the past 28 years, Hyundai Motor India Ltd has already invested more than ₹25,000 crore in its car manufacturing operations, spanning two factories in Tamil Nadu. The collaboration with IIT-Madras underscores Hyundai's dedication to driving innovation and sustainability in the automotive sector.

HBL