Hyundai Motor India has announced an investment of Rs 694 crore to set up a tooling centre, aimed at strengthening its manufacturing capabilities.

The facility will focus on local production of stamping tools and panel for vehicles, ensuring supply chain stability and enhancing production efficiency. The move comes as Hyundai seeks to develop critical infrastructure for stamping tool production, stabilise its supply chain while supporting its long-term strategy in India, which is seeing strong SUV demand. 

The company's upcoming facility in Talegaon near Pune will go onstream later this year to raise the annual production of India's second largest carmaker to 1.1 million units from 900,000 at present.