Hyundai Motor Group to invest more than US$10-B in US

chung-and-biden

Hyundai Motor Group announced earlier this week that it will be investing more than US$10 billion in the US by 2025 to secure its goal as a leader in sustainable and smart mobility solutions in the country.

KEY TAKEAWAYS

  • How will the increased investment help Hyundai Motor Group in the US market?

    Hyundai Motor Group's increased investment in the US will allow the consortium to support the development of key businesses in the country such as robotics, AI technologies, advanced air mobility, and autonomous driving.
  • What brands in the US belong to the Hyundai Motor Group?

    Brands under the Hyundai Motor Group that are marketed in the US are Hyundai, Kia, and Genesis.
  • According to Hyundai Motor Group, its investment plans are designed to accelerate innovation and mobility electrification. The move to increase the conglomerate’s investment in the US supports its carbon neutrality goals with new technologies and will contribute to increased manufacturing in the US region.

    hyundai-site-in-us

    “We have come a long way and become very successful in a short period of time, but we are also preparing for our future. The group will strengthen our partnership with US public and private entities to offer innovative products and mobility solutions to our valued customers in the US while supporting global carbon neutrality efforts,” said Hyundai Motor Group Executive Chair Euisun Chung.

    Chung met with US President Joe Biden in Seoul on May 22.

    The US$10-billion-plus investment will support the development of key future businesses, including robotics, AI technologies, advanced air mobility, and autonomous driving capability. The investment will also allow the firm to explore new business areas in the US.

    Additionally, Hyundai Motor Group plans to maintain consistent levels of investment in R&D to continue offering exciting and innovative vehicles from its Hyundai, Kia, and Genesis brands, as well as into expanding and upgrading existing facilities in the US.

    Photos from Hyundai

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