Automaker Hyundai Motor has increased its investment target to 2032 by more than 14 percent to 109.4 trillion won (CZK 1.85 trillion). It wants to secure a leading position in the global future mobility market. It plans to sell two million fully electric models a year by 2030. Jonhap news agency reported this, citing a company statement today.
The carmaker’s investment target has been raised from 95.5 trillion won compared to the plan set last March, and its electric vehicle sales target has been raised from 1.87 million units.
Of the planned investment, the automaker will spend 47.4 trillion won on research and development. Another 47.1 trillion is earmarked for investment in production plants and 14.9 trillion won is earmarked for strategic investment, the company said in a statement.
Hyundai electric cars from USA to South Korea
Hyundai expects more than half of its vehicles sold in South Korea, the United States and Europe to be powered by electricity by 2030.
Hyundai, along with its sister company Kia Motors, ranks among the top five automakers in the world in terms of car sales. In November 2008, Hyundai officially started mass production of passenger cars in Nosovice, Frýdek-MÃstek, while Kia started mass production of passenger cars near Žilina, Slovakia, in December 2007.
Source: ÄŒTK
