Hyundai’s board greenlights approx. ₹694 crore investment to establish tooling centre

Hyundai Motors on Monday said that its board approved an investment worth approximately ₹694 crore for establishing and operating a tooling centre.

The tooling centre will be used to manufacture and produce stamping tools and panels for vehicles, the auto maker said.

Hyundai aims to stabilise its supply chain and better comply with project schedules through a local stamping tools and panel manufacturing facility. This investment will also strengthen Hyundai’s foundation of manufacturing by establishing infrastructure of stamping tools, it added.

Hyundai hikes price

Last week, Hyundai Motor India announced its plan to hike prices by 3%, with effect from April 1, 2025. However, the price increase will differ between variants and models. This is the second price hike of the year.

The automaker cited rising input costs, increased commodity prices and higher operational expenses as some of the reasons for the price hike.

Tarun Garg, the Whole-time Director and Chief Operating Officer of Hyundai said: “At Hyundai Motor India Limited, we strive to absorb rising costs to the extent possible, ensuring minimal impact on our customers. However, with the sustained increase in operational expenses, it has now become imperative to pass on a part of this cost escalation through a minor price adjustment. The price increase will be effective in April 2025. We remain committed to making consistent internal efforts to minimise any future impact on our valued customers.”

In January 2025, Hyundai hiked the prices of its vehicles by up to ₹25,000 across its model range due to an increase in input costs, adverse exchange rate and rise in logistics costs.

Hyundai share performance

Shares of Hyundai settled at ₹1,759 apiece, up 3.62% on the National Stock Exchange (NSE) on Monday. However, the auto manufacturer announced the ₹694 crore investment after the market closed.

The stock rose 3.23% over the last seven days and 1.68% since the beginning of March. The scrip lost 2.61% on a year-to-date basis.