New Delhi: Hyundai Motors on Monday said that it had no plans to set up a Light Commercial Vehicle (LCV) plant at Chakan in Maharashtra's Pune district.
Hyundai official denied reports of having acquired any land at Chakan or having made any investment there for a LCV project.
"The concerned write up does not portray the facts correctly. As far as Hyundai Motor India is concerned they have neither acquired any land in Chakan nor any investments made for the LCV project," PTI quoted a Hyundai spokesperson as saying.
The company, which has its plant at Chennai in Tamil Nadu, is constructing its second plant near the existing one.
The outlay for the plant is around $528-million with a manufacturing capacity of 3,00,000 units per annum.
The new plant is expected to be commissioned by end this year, the statement said.
The company has sold a total of 2,99,513 vehicles in the current fiscal, an increase of 18.5 per cent over 2005. It has sold a total of 1,86,174 units in the domestic market, with exports accounting for 1,13,339 units.
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