Hyundai Motor Group to invest $50bn in South Korea through 2025

Hyundai Motor Group said on Tuesday it plans to invest 63 trillion won ($49.86bn or roughly R788.9bn) in South Korea through 2025 to strengthen its competitiveness in different business fields, including electrification, robotics and urban air mobility, as well as autonomous driving technology.

The South Korean auto group on Sunday announced its plans to invest more than $10bn (roughly R158.24bn) in the US by 2025 to enhance collaboration with US firms in advanced technology, which includes its $5.5bn (roughly R87bn) investment for new electric vehicle and battery facilities in Georgia.