Hyundai Motor Group To Invest More Than $10 Billion In U.S. …
2 min read(MENAFN- Craze News Company)
Hyundai Motor Team claimed on Sunday it would devote an extra
$5 billion in the United States by 2025 to improve collaboration
with U.S. corporations in highly developed technological innovation, Pattern reviews citing
Reuters .
The investments, announced in the course of a visit to Seoul by President
Joe Biden, are for robotics, urban air mobility, autonomous driving
and artificial intelligence, the team stated.
Hyundai Motor Team, which homes Hyundai Motor Co (005380.KS)
and Kia Corp (000270.KS), on Friday declared strategies to devote $5.5
billion in Georgia to develop electrical automobile (EV) and battery
amenities.
The new investment decision brings its prepared U.S. full as a result of 2025 to
about $10 billion, higher than the $7.4 billion it declared last
year.
The world’s third-greatest automaker by vehicles sales did not
say in which in the United States the further $5 billion would be
invested.
‘Thanks to Hyundai, we are being section of this transformative
auto sector and accelerating us on a highway where we’re heading
to be handing to United States of all electric potential,’ Biden advised
a news convention.
Standing following to him soon after a conference, Hyundai Motor Team
govt chair Euisun Chung explained, ‘I am confident that this new
plant in Georgia will aid us turn into a chief in the The us
automobile sector with regards to making large high quality electrical
motor vehicles for our U.S. customers.’
The automobile team stated on Wednesday it would devote 21 trillion won
($16 billion) via 2030 to develop its EV business in South
Korea.
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