November 30, 2022

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Hyundai Motor Group To Invest More Than $10 Billion In U.S. …

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(MENAFN- Craze News Company)

Hyundai Motor Team claimed on Sunday it would devote an extra&#13
$5 billion in the United States by 2025 to improve collaboration&#13
with U.S. corporations in highly developed technological innovation, Pattern reviews citing&#13
Reuters .

The investments, announced in the course of a visit to Seoul by President&#13
Joe Biden, are for robotics, urban air mobility, autonomous driving&#13
and artificial intelligence, the team stated.

Hyundai Motor Team, which homes Hyundai Motor Co (005380.KS)&#13
and Kia Corp (000270.KS), on Friday declared strategies to devote $5.5&#13
billion in Georgia to develop electrical automobile (EV) and battery&#13
amenities.

The new investment decision brings its prepared U.S. full as a result of 2025 to&#13
about $10 billion, higher than the $7.4 billion it declared last&#13
year.

The world’s third-greatest automaker by vehicles sales did not&#13
say in which in the United States the further $5 billion would be&#13
invested.

‘Thanks to Hyundai, we are being section of this transformative&#13
auto sector and accelerating us on a highway where we’re heading&#13
to be handing to United States of all electric potential,’ Biden advised&#13
a news convention.

Standing following to him soon after a conference, Hyundai Motor Team&#13
govt chair Euisun Chung explained, ‘I am confident that this new&#13
plant in Georgia will aid us turn into a chief in the The us&#13
automobile sector with regards to making large high quality electrical&#13
motor vehicles for our U.S. customers.’

The automobile team stated on Wednesday it would devote 21 trillion won&#13
($16 billion) via 2030 to develop its EV business in South&#13
Korea.

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