Telangana CM Revanth Reddy Meets Hyundai Officials in South Korea to Boost Investments
Telangana Chief Minister Revanth Reddy, accompanied by IT and Industries Minister Sridhar Babu, met with officials of Hyundai Motor in Seoul, South Korea, to attract investments for boosting the state’s economy.
Meeting Highlights
During the meeting, CM Reddy emphasized the state’s focus on major investment opportunities by global giants. He mentioned that Hyundai Motor Company plans to invest in setting up a car testing facility in Telangana through its subsidiary Hyundai Motor India Engineering Pvt Ltd. (HMIE).
CM Reddy stated, “Telangana State’s industry-friendly policies, progressive and futuristic vision in creating a world-class infrastructure and providing hassle-free permission systems have enabled best-in-class companies like HMIE to do business in Telangana.”
Hyundai’s Plans
After discussions, Hyundai Motor India Engineering Pvt Ltd. (HMIE) plans to establish a large Mega Test Center in Telangana. This center will include an automated test track facility and a state-of-the-art test car manufacturing facility, including electric vehicles (EVs). The Mega Test Center is expected to attract other affiliates and suppliers, creating both direct and indirect employment opportunities.
Additionally, HMIE is expanding by renovating and modernizing the existing engineering center in Hyderabad to create more employment for India and the Asia-Pacific region.
Hyundai’s Commitment
HMIE expressed their gratitude to CM Telangana for providing the opportunity to develop state-of-the-art testing facilities. They stated, “India is a very important market, and we are committed to developing benchmark-setting products and technologies for Indian customers. This investment underscores HMIE’s commitment to India and CM Reddy’s vision for a sustainable future for the state.”
Doubts Revealed
Telangana -: Telangana is a state in southern India. Its capital city is Hyderabad.
Chief Minister -: A Chief Minister is the head of the government in an Indian state, similar to a principal of a school but for the whole state.
Revanth Reddy -: Revanth Reddy is the current Chief Minister of Telangana, which means he is the main leader of the state.
Hyundai -: Hyundai is a big company from South Korea that makes cars and other vehicles.
Seoul -: Seoul is the capital city of South Korea, where many important meetings and events happen.
Investments -: Investments are when people or companies put money into something to help it grow, like planting seeds to grow a tree.
Mega Test Center -: A Mega Test Center is a large place where new cars are tested to make sure they work well and are safe.
Employment opportunities -: Employment opportunities are chances for people to get jobs and work to earn money.
Engineering center -: An engineering center is a place where engineers work on designing and improving things like cars, machines, and technology.
Sustainable future -: A sustainable future means making sure we take care of the environment and resources so that future generations can also enjoy them.
