SEOUL :South Korea's Hyundai Motor Co said on Tuesday it plans to invest about 109.4 trillion won ($85.4 billion) in the period through to 2032, allocating around a third to meet a 'seismic change' in the industry toward electric vehicles (EVs).Hyundai Motor, which together with affiliate Kia Corp is among th
SEOUL :South Korea's Hyundai Motor Co said on Tuesday it plans to invest about 109.4 trillion won in the period through to 2032, allocating around a third to meet a"seismic change" in the industry toward electric vehicles .
"Hyundai Motor is leveraging its heritage of innovation and knowledge accumulated over a long period of time ... amidst seismic change in the industry with competition intensifying in a bid for leadership in the electric vehicle market," the company said on its investor day. The company aims to source more than 70 per cent of batteries through its joint ventures by 2028 and beyond.
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