Saturday, March 6, 2010

Hyundai to set up diesel engine plant

Hyundai Motor India is all set to set up a diesel plant near chennai. Sriperumbudur plant near Chennai is a petrol engine plant of Hyundai Motor already deals in making a Kappa engine. In July, during the budget announcement, if the Government increases excise duty on cars, it may lead to the immediate drop in car sales says the second largest car manufacturing company in India. Car sales were showing signs of recovery as May results had shown, but any increase in excise duty could neutralize the recent gains, says Mr. H. S. Lheem, Managing Director Hyundai Motor India. Mr. Lheem expected the Indian operations to post a 15 per cent increase in revenues this year from $4 billion in 2008. Mr. Lheem said we initiated a feasibility study for setting up a diesel engine plant. He did not give more details about it.

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