Hyundai Motor To Invest $85b Over Next 10 Years To Accelerate Transition To Smart Mobility Provider

Hyundai Motor announced that it will invest KRW 109.4 trillion (US$85 billion) over the next 10 years to become a smart mobility solution provider, including KRW 35.8 trillion (US$27.8 billion) for electrification. The company aims for 2 million units in annual EV sales by 2030 and will focus on future businesses such as autonomous driving, hydrogen, robotics and advanced air mobility (AAM). The key parts of the strategy include introducing a next-generation modular architecture for EVs, strengthening EV production capacity, battery development capabilities and future businesses.