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South Korea’s Hyundai Motor Group said it will invest 68 trillion won (US$50.6 billion) in the development of the electric vehicle industry by 2026 and hire 80,000 new
As reported by Ukrinform, Yonha reported this.
Hyundai Motor said 31.1 trillion won will be spent specifically on electric vehicle research and development projects.
It was stated that the holding, which also includes its subsidiary Kia Corp., aims to increase annual electric vehicle production in South Korea to 1.51 million units by 2030.
Hyundai Motor plans to increase its electric car series to 31 models by 2030, thanks to new investments.
Additionally, Hyundai Motor also plans to work on creating “a mobility ecosystem based on software-defined vehicles and artificial intelligence” in the future.
Last year, Hyundai Motor Group invested 17.5 trillion won.
As reported by Ukrinform, automaker Hyundai Motor Co., its subsidiary Kia Corp. is recalling approximately 170,000 electric cars in South Korea due to software problems in their charging systems.
Source: Ukrinform
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