Hyundai Motor and Kia suppliers Hwasin and Seoyon to make additional investment totaling 194.6 billion won in Tamil Nadu, India

【NEW DELHI, India — Pragya Awasthi, correspondent】Hwasin and Seoyon E-Hwa, key suppliers to Hyundai Motor Company and Kia Corporation, plan to invest a total of 13.7 billion rupees (approximately 194.6 billion won) in Tamil Nadu, India, over the next five years. The investment announcement has drawn attention as it comes amid concerns that the two companies could move new plants to neighboring Andhra Pradesh. It is seen as the result of a swift response by the Tamil Nadu government to allay concerns about weakening industrial competitiveness and restore the confidence of foreign investors.
On the 12th, the Tamil Nadu government said that Hwasin and Seoyon E-Hwa had officially conveyed, in a letter dated the 11th, their intention to continue expanding their businesses in the state.
The two companies have contributed to the development of Tamil Nadu’s automotive industry as key suppliers in the Hyundai Motor and Kia supply chains. Hwasin already operates production facilities at the Irungattukottai Industrial Park in Tamil Nadu. Over the next five years, the company plans to invest 8.5 billion rupees (approximately 120.7 billion won) in research and development, the adoption of advanced manufacturing technologies, localization, expanded production capacity and the pursuit of new business opportunities.
Seoyon E-Hwa Summit Automotive India, Seoyon E-Hwa’s Indian subsidiary, will invest a total of 5.2 billion rupees (approximately 73.8 billion won) from 2027 to 2031. The funds will be used to modernize manufacturing facilities, upgrade technology and develop new business areas.
S. Keerthana, Tamil Nadu’s Minister for Industries and Investment Promotion, emphasized that the investment demonstrates the state’s industrial competitiveness and the confidence of global manufacturers. He said in a statement, “Investors make investment decisions based on the competitiveness of the industrial ecosystem and institutional framework, as well as confidence in the future,” adding, “Hwasin and Seoyon E-Hwa’s investment plans totaling 137 billion rupees are strong evidence of the confidence global manufacturers place in Tamil Nadu.”
Tamil Nadu Industries Department officials said the investment plans reflect overseas manufacturers’ continued confidence in the state’s skilled workforce, robust automotive and engineering industry base, industrial infrastructure and policies favorable to foreign investment. 

[email protected] Pragya Awasthi, correspondent Reporter