Hyundai Motor plans to invest $51b over 3 yrs

Hyundai Motor Group announced a $51 billion investment over three years to enhance its electric vehicle and new mobility business, as reported by Reuters on Wednesday.

The investment will focus on research and development for electric vehicles, software-defined vehicles, and battery technology.

Additionally, the group plans to hire 80,000 new employees, with a focus on electrification and carbon neutrality.

Hyundai Motor Group, including Hyundai Motor and Kia, is the world’s third-largest automaker by sales, the report added.