Hyundai Motor to invest record US$16.6bil in South Korea
- Hyundai Motor Group plans to invest 24.3 trillion won in Korea this year, focusing on electrification, software-defined vehicles, and hydrogen energy.
- The investment represents a 19 percent increase from the previous year and is the largest annual investment in Korea.
- Hyundai Motor aims to introduce 21 electric vehicle models by 2030, while Kia plans to expand its lineup to 15 models by 2027.
- The group will invest 800 billion won in autonomous driving and artificial intelligence, emphasizing a commitment to sustainability and innovation.
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16 Articles
Hyundai Motor to invest record $16.6B in South Korea
Seoul, South Korea — South Korea’s Hyundai Motor Group said Thursday it plans to make a record $16.6 billion investment in the country, boosting EV and AI development, as it navigates geopolitical challenges and uncertainties. The world’s third-largest carmaker has been confronted with tough competition abroad, as US President-elect Donald Trump’s second term is expected
Hyundai commits a record +$16.6 billion in Korea to develop new tech and EVs
The world’s third-largest auto group is going all-in to lead the shift to electrification. With plans to pour a record over $16.6 billion into advancing new tech and EVs in South Korea, Hyundai is laying the groundwork for the future. Can the new investment help it surpass Volkswagen or Toyota in global sales? more…
Hyundai says it will boost EV and AI development with record $16.6 billion investment in South Korea
The 24.3 trillion won ($16.6 billion) investment plan represents a more than 19 percent increase from last year's 20.4 trillion won, the group said in a statement Thursday.
Hyundai Motor to invest record US$16.6bil in South Korea
SEOUL: South Korea’s Hyundai Motor Group said Thursday it plans to make a record US$16.6 billion investment in the country, boosting EV and AI development, as it navigates geopolitical challenges and uncertainties. © New Straits Times Press (M) Bhd
Hyundai Motor Group to invest record 24.3 trillion won in South Korea this year
SOUTH Korea’s Hyundai Motor Group said on Thursday (Jan 9) that it planned to boost domestic investment by 19 per cent to a record high of 24.3 trillion won (S$22.8 billion) this year to secure future growth even as it grapples with economic and political uncertainties.
Hyundai Motor Group to invest record $16.7 billion in South Korea this year
Hyundai Motor Group plans to increase domestic investment by 19% to 24.3 trillion won in 2024, focusing on research and development for next-generation products, electrification, and technology. This record investment aims to secure future growth despite economic and political uncertainties, adjusting production lines for electric vehicles.
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