chennai south korean car giant hyundai said on thursday that it will invest rs 20000 crore in tamil nadu over 10 years the carmaker which signed an mou with the state government said the investment will start with an electric vehicle ev battery pack assembly unit with 178000unit annual capacity which will go onstream in 12 months and create 500 jobs the investment shows our commitment to the india market and the state of tamil nadu we will create employment and support the ev industry in india as well as the hydrogen ecosystem when it comes in the future said hyundai india md ceo unsoo kim the company has so far invested 5 billion about rs 41000 crore at current rate in india the investment will include model spend for both electric as well internal combustion engine ice vehicles increase in production volume for both electric and ice cars and investment in charging infrastructure apart from the battery pack assembly unit it will help make hyundais irungattukottai plant on the outskirts of chennai a hub for emobility and ev manufacturing as well as a supply centre for regional exports said puneet anand associate vp corporate affairs hyundai india the carmaker is now in the process of ramping up its current production capacity to 85 lakh units a year from nearly 78 lakh units hyundai also announced it will set up 100 charging stations in 33 cities in tamil nadu over five years in order to create an ev ecosystem in the state we are building an integrated endtoend ev battery pack assembly base in tamil nadu and we are expanding and developing our vendor base by adding new vendors for ev to localise the line added anand tamil nadu cm m k stalin said the state is leading in both automotive and more recently in evs due to government policies and quality talent we released the ev policy in february 2023 and as a result a giant like hyundai is going to invest in manufacturing evs here around 15000 direct jobs and over 1 lakh indirect jobs have been created and the new investments will further increase jobs