South Korea's Hyundai Motor Group has declared its plan to inject 68 trillion won into its operations over the next three years, with a strong emphasis on advancing in the electric vehicles and new mobility business sectors. Through this substantial financial commitment, the group aims to fortify its growth potential in these key areas by allocating a significant portion, 35.5 trillion won, towards developing new research and assembly infrastructure specifically for electric vehicles. Another substantial portion, totaling 31.1 trillion won, will be dedicated to research and development activities geared towards electric vehicles, including the exploration of software-defined vehicles (SDVs) and advancements in battery technology.
In addition to the financial investment, Hyundai Motor Group is set to significantly expand its workforce by hiring 80,000 new employees, with a focus on positions that will drive future business initiatives forward. The majority of these new hires, totaling 44,000 employees, will be deployed to roles that support electrification, software-defined vehicles, and efforts towards achieving carbon neutrality. This move indicates the group's strategic plan to not only invest in technology and infrastructure but also to build a capable workforce that aligns with their future business objectives. Notably, Hyundai Motor Group encompasses prominent entities such as Hyundai Motor and Kia, collectively ranking as the third-largest automaker worldwide based on sales volume. Additionally, automotive parts manufacturer Hyundai Mobis and Hyundai Engineering & Construction operate under the Hyundai Motor Group conglomerate, further diversifying its scope within the industry.