Hyundai Motor Group to invest more than $10 billion in U.S. up to 2025

Lyle Ellerbee

Hyundai Motor Group claimed on Sunday it would invest an supplemental
$5 billion in the United States by 2025 to bolster collaboration
with U.S. corporations in highly developed know-how, Craze reports citing

The investments, introduced for the duration of a stop by to Seoul by President
Joe Biden, are for robotics, urban air mobility, autonomous driving
and synthetic intelligence, the team claimed.

Hyundai Motor Group, which homes Hyundai Motor Co (005380.KS)
and Kia Corp (000270.KS), on Friday announced programs to spend $5.5
billion in Georgia to construct electric car (EV) and battery

The new financial commitment provides its planned U.S. complete through 2025 to
about $10 billion, over the $7.4 billion it announced final
12 months.

The world’s third-major automaker by autos sales did not
say where in the United States the further $5 billion would be

“Many thanks to Hyundai, we are staying portion of this transformative
auto sector and accelerating us on a street exactly where we’re going
to be handing to United States of all electrical foreseeable future,” Biden instructed
a information meeting.

Standing up coming to him soon after a assembly, Hyundai Motor Group
government chair Euisun Chung explained, “I am self-confident that this new
plant in Ga will assist us turn into a chief in the America
auto sector with regards to developing superior quality electric
vehicles for our U.S. clients.”

The vehicle group explained on Wednesday it would spend 21 trillion won
($16 billion) via 2030 to expand its EV business enterprise in South

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