HYUNDAI PLANS TO INVEST $87 BILLION INTO THE PRODUCTION OF ELECTORNIC VEHICLES

, Magazine

Hyundai Motor Group is set to invest $87 billion in the production of electric vehicles and autonomous driving.

This  was made knowen by the company’s Executive Vice Chairman, Chung Eui-sun. The $87 billion investment would be put to work over the course of 5 years in future mobility technologies like the planned production of new electric models.

Speaking during the Hyundai new year ceremony held at the company’s head office in Seoul, Eui-sun announced that the company plans to expand its electric line-up to 44 models, including 23 battery EVs and 14 hybrids, and two fuel-cell EVs. He said the first new battery EV would be launched next year. fff