Hyundai will invest $50 billion in production in South Korea over three years – Kommersant
[ad_1]
In the next three years, Hyandai Motor Corporation intends to invest 68 trillion won ($50.6 billion) in its own production in South Korea, the agency reports. Yonhap with reference to the company’s statement. The new investment program is aimed at transitioning the concern to the production of electric vehicles.
More than half of this amount will go to new research and development, as well as to the development of infrastructure and the creation of assembly lines for electric vehicles. The remaining funds will be invested in software development for electric vehicles and battery production. According to the company, these investments will allow hiring an additional 80 thousand employees.
Hyundai has set a goal to increase the production of electric vehicles in South Korea to 1.5 million units per year by 2030. By this time, the concern intends to expand the range of electric vehicles to 31 models.
Last year the concern introduced long-term investment program until 2030–2032. It provides for investments in production and new developments of 109.4 trillion won. By 2030, the company plans to reach annual production of 2 million electric vehicles worldwide.
Read about the fate of the company’s Russian assets in the material “Hyundai left the factories behind”.
[ad_2]
Source link
