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Hyundai Motor India Limited has announced new appointments and approved a Rs 694 crore investment for a new Tooling Centre following its recent board meeting.
The planned Tooling Centre will focus on manufacturing stamping tools and vehicle panels, reinforcing Hyundai’s local production capabilities and supply chain stability. This strategic move aims to enhance the company’s manufacturing foundation in India.
Tooling refers to the specialised equipment, molds, dies, jigs, fixtures, and cutting instruments used to manufacture automotive parts and components. Tooling enables mass production with consistent quality and precision, maintaining the tight tolerances required for modern vehicles.
China dominates tooling through massive infrastructure investment, lower labor costs, and aggressive government subsidies. Their vast manufacturing ecosystem offers economies of scale and rapid production capabilities unmatched globally.
India lags significantly behind China, the US, and Germany in tooling capabilities. While India has a growing manufacturing base, it struggles with infrastructure limitations, fragmented supply chains, and insufficient technical expertise. Unlike China’s coordinated industrial policy or Germany’s precision engineering heritage, India’s tooling sector remains underdeveloped, though recent “Make in India” initiatives aim to close this gap through targeted investments and skills development.
In a separate development, Hyundai has announced an internal changes, effective March 31, which includes the departure of five senior executives. Those stepping down include Raja R (Internal Auditor), Jong Tae Park, Amit Kumar Dhaundiyal, Daeick Kim, and Puneet Anand.
As part of the leadership transition, Madhan Raj T N has been appointed as the new Internal Auditor. A chartered accountant with over 25 years of experience, including 19 years in internal audit, he will take over the role. Additionally, the board has appointed M/s. BP & Associates as the Secretarial Auditor for the financial year 2024-25.
Hyundai Motor India Limited (HMIL), a wholly-owned subsidiary of Hyundai Motor Company, has been present in India since 1996. It is one of the leading automobile manufacturers in the country, with a diverse portfolio of vehicles ranging from hatchbacks and sedans to SUVs and electric models. The company operates a manufacturing facility in Sriperumbudur, Tamil Nadu, which serves both domestic and export markets.
Hyundai India has a strong presence in various vehicle segments. Its product lineup includes models such as the Grand i10 Nios, i20, Aura, Verna, Creta, Alcazar, Tucson, and Exter. The company has also expanded its electric vehicle offerings with the Kona Electric and Ioniq 5. Hyundai focuses on design, technology, and safety features across its models, integrating advancements like connected car technology and ADAS (Advanced Driver Assistance Systems) in select vehicles.
The company has an extensive sales and service network, with numerous dealerships and service centers across the country. Hyundai India also exports vehicles to multiple international markets, making it a key contributor to Hyundai’s global operations.
In addition to vehicle production and sales, Hyundai has been involved in various sustainability initiatives, including the promotion of electric mobility and investments in charging infrastructure. The company has also undertaken corporate social responsibility (CSR) initiatives in education, healthcare, and environmental sustainability.
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