Hyundai Motor share price rises 1% as carmaker picks 26% equity in Hyderabad-based power company

The stock is up 1% to ₹1,848.7 per share on the National Stock Exchange. The company's market capitalisation stands at ₹1,50,218 crore.

On the BSE, the stock gained 1.1% to ₹1,850 apiece.

In an exchange filing, the carmaker said that FPEL TN Wind Farm would set up a solar power plant with a 75 megawatt (MW) capacity and wind power of 42.9 MW capacity in Tamil Nadu.

"Subscription of equity shares in FPEL TN Wind Farm Private Limited will enable the Company to consume solar and wind power generated by FPEL TN Wind Farm Private Limited as a 'captive user'," Hyundai Motor said.

Hyundai Motors plant in Tamil Nadu's Kancheepuram district has an annual production capacity of 8.50 lakh cars.

Hyundai Motor India bets on CNG vehicles

Hyundai Motor India is making sizeable investments in CNG fuel options, as the models equipped with this technology are witnessing growing demand in both rural and urban markets across the country.

The firm presently offers three CNG models Grand i10 NIOS, Exter and Aura. The CNG models contributed 11.4% to domestic sales in FY24 as compared to a 9.1% share in FY22.

Tarun Garg, full-time Director and Chief Operating Officer (COO) of Hyundai Motor India said, "At present, India already has more than 7,000 CNG stations, and the aim is to have approximately 17,500 CNG stations by 2030, which will further fuel the CNG demand."

Amid increasing CNG vehicle sales, the auto company launched the 'Hy-CNG Duo'—a dual-cylinder system that provides ample boot space and enhances fuel efficiency—in its EXTER and Grand i10 NIOS models.

"The introduction of Hy-CNG Duo is aimed to meet customer demands of providing ample space with high mileage and safety. This has helped us achieve the highest-ever CNG penetration of 14.9 per cent in October 2024," he added.