APD | Huyndai plans to invest 86.6 billion USD in future car models

By APD writer Alice

The largest automaker of South Korea Huyndai Motor Group said on January 2 that it would invest more than 100 trillion won ($86.6 billion) in the next five years to enhance its presence in car markets in the future.

Hyundai Executive Vice Chairman Chung Euisun said the firm is planning to launch 44 electric cars by 2025, including 11 dedicated battery electric vehicle (BEV) models, in the context that Hyundai is aiming to lead in the EV market based on the development of platforms as well as its core electric vehicle parts.

The aforementioned large-scale investment plan of Hyundai Motor Group includes a plan to inject 61 trillion won into the future production and trading of Hyundai Motor Co., its subsidiary.

Last month, the maker of the Santa Fe Sonata sedan and all-purpose sports utility vehicle (SUV) said it would invest 41,000 billion won in its current business and 20,000 billion won in new technology, with the goal of becoming a provider of smart automotive solutions.

(ASIA PACIFIC DAILY)