As reported by Ukrinform, Yonhap reported it.

The company said that 35.8 trillion won of the planned investment will be spent on the electrification of cars, including the development of batteries, and the rest will be invested in the development and expansion of the modular architecture of next-generation electric vehicles. electric vehicle production capacity

In line with Hyundai’s medium and long-term business strategy, called Hyundai Motor Way, the company plans to develop an integrated modular architecture and a special platform for second-generation electric cars that will replace the existing electric global modular platform E. -GMP.

In July, Hyundai plans to introduce the first high-performance model of its IONIQ 5 N electric car in the domestic market as part of the expansion of its electric car lineup.

Hyundai also said that in order to effectively respond to the growing demand for electric vehicles, the company not only built new factories, but also used existing internal combustion engine factories.

The company currently manufactures electric vehicles at its factories in the United States, South Korea, Czech Republic and India and plans to convert additional lines according to market needs.

As reported by Ukrinform, at the beginning of June, South Korean automaker Hyundai introduced its new Palisade sports SUV.

Photo: “Yonhap”