Hyundai Motor Group's Record 24.3 Trillion Won Investment in Korea: Driving Innovation and Economic Growth
Key Ideas
- Hyundai Motor Group is set to invest a record 24.3 trillion won in Korea this year, marking the largest annual investment ever, aimed at overcoming crises and enhancing future competitiveness.
- The investment will focus on new business areas like product development, key technologies, electrification, and software-based automobiles, contributing to economic revitalization and industry advancement.
- Plans include R&D investments to improve product competitiveness, electrification, software-based vehicles, and hydrogen products, alongside expanding infrastructure like customer experience bases.
- Strategic investments in autonomous driving, software, and artificial intelligence aim to boost core future businesses, with emphasis on developing original technologies for electric vehicles and hydrogen solutions.
Hyundai Motor Group Chairman Chung Eui-sun announced a historic investment plan of 24.3 trillion won in Korea, the largest annual investment ever by the group. The initiative aims to strengthen future competitiveness and overcome internal and external crises, focusing on mobility innovation. This substantial investment will be channeled towards new business areas such as product development, key technologies, and electrification. R&D investments will play a crucial role in enhancing product competitiveness, software-based vehicles, and hydrogen products. Moreover, strategic investments in autonomous driving, software, and artificial intelligence will further drive innovation.
Several manufacturing advancements are also on the agenda, including the establishment of a hypercasting plant for electric vehicles and accelerating the development of original technologies for electric and software-based vehicles. The investment plan also underscores the group's commitment to diversifying into new businesses, like mobility devices and robotics. Additionally, significant investments are earmarked for enhancing core business competitiveness in sectors like parts, steel, and finance. Overall, Hyundai Motor Group's investment strategy is poised to contribute to economic revitalization and shared growth, positioning the group at the forefront of innovation and technological advancement.