## Hyundai Motor Group Invests Heavily in Electric Vehicles and New Mobility
Hyundai Motor Group has announced a significant investment of 68 trillion won ($51 billion) over three years in South Korea to accelerate its electric vehicle (EV) production and new mobility businesses. This bold move comes at a time when other established automakers are slowing down their EV efforts.
Focus on Electrification and R&D
More than half of the investment, 35.5 trillion won, will be allocated to new research and development infrastructure and assembly lines for EVs. This demonstrates Hyundai's commitment to becoming a leader in the rapidly growing EV market.
Global Expansion and Job Creation
Hyundai is also investing heavily in the United States, where it announced a $12.6 billion investment for new dedicated EV and battery manufacturing facilities in Georgia. This is the largest investment the company has made outside of South Korea.
In addition to its investments in infrastructure, Hyundai plans to hire 80,000 new employees globally, doubling its workforce. This will help the company meet the growing demand for EVs and new mobility solutions.
Maintaining Momentum in a Changing Landscape
While some automakers are slowing down their EV plans, Hyundai is doubling down on its commitment to electrification. The company believes that EVs are the future of transportation and is investing heavily to ensure its success in this market.
Hyundai's new investment plan also includes the development of software-defined vehicles (SDVs) and battery technology. This focus on innovation will help the company stay ahead of the competition in the rapidly evolving automotive industry.
Conclusion
Hyundai Motor Group's significant investment in EVs and new mobility businesses is a clear sign of its commitment to the future of transportation. The company is well-positioned to capitalize on the growing demand for EVs and become a leader in this exciting new market.