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Hyundai Global Motors withdraws from government’s PLI scheme for batteries
FirstpostThe company was one of the entities initially selected even as the government re-examined its application after the South Korean automobile manufacturer issued the clarification. Ltd. has withdrawn its name from the production-linked incentive scheme for advanced chemistry cell battery storage worth Rs 18,100 crore after South Korean automobile giant Hyundai Motor Company is not affiliated with Hyundai Global Motors in any shape or form. “Hyundai Motor Company and HMIL urges the general public, traders, business associates and all government and non-government bodies to proceed with caution while dealing with Hyundai Global Motors Co. Limited, South Korea as they are not related to our company," Hyundai Motor India Ltd, the Indian subsidiary of Hyundai, said in a press statement. Following the announcement, Hyundai Global Motors has withdrawn its name from the PLI scheme. Even though Hyundai Global Motors was initially selected, the clarification from HMIL on July 15 meant no agreement was signed.
History of this topic
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India TV News
Hyundai signs pact for acquisition, assignment of identified assets related to General Motors India’s Talegaon Plant
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