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Hyundai Motor Group has announced a $15.5 billion investment plan in India through 2032.
The company says the money will support manufacturing, research and development, local supplier cultivation, and future technologies.
The announcement follows a meeting in New Delhi between Prime Minister Narendra Modi and Executive Chair Euisun Chung.
Hyundai plans to establish a dedicated local investment entity in India to coordinate the initiative.
More context
Some reporting says the seven-year program also includes about $700 million for an R&D center and aims to expand India’s role as a global export and innovation hub.