EV investments Archives | Be Korea-savvy

Hyundai to Utilize Overseas Operations’ Reservation Money for EV Investments

SEOUL, June 12 (Korea Bizwire) — Hyundai Motor Group said Monday it will utilize 7.8 trillion won (US$5.9 billion) worth of reservation money held by its overseas operations to push forward the group’s planned investments in domestic electric vehicle (EV) plants. Hyundai Motor Co., its smaller affiliate Kia Corp. and auto parts maker Hyundai Mobis [...]

Hyundai to Invest 21 tln Won in Local EV Production, EV Technologies

SEOUL, May 18 (Korea Bizwire) — South Korea’s Hyundai Motor Group said Wednesday it will invest 21 trillion won (US$16.5 billion) to expand its domestic electric vehicle production capacity and develop related technologies by 2030. Hyundai Motor Co. and its affiliate Kia Corp. will spend most of the planned investments in expanding their existing EV [...]