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South Korea’s Hyundai Motor plans to invest $79.2 billion through 2030 -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: At the Hyundai Motor Show 2019, visitors take photos in front of its logo in Goyang. South Korea. March 28, 2019. REUTERS/Kim Hong-Ji

SEOUL (Reuters – South Korea’s Hyundai Motor Co intends to invest approximately 95.5 trillion won (79.21 billion dollars) by 2030. This includes about 19.4 trillion won for electric cars (EV).

Hyundai Motor (along with its affiliate Kia Corp) is one of the 10 most successful automakers worldwide. It stated in late 2020 that it would seek a market share between 8% and 10% for the global electric vehicle market by 2040.

After their 2016 sales of just 6.92 Million vehicles, Hyundai and Kia predicted a 12.1% increase in global combined sales.

As of 0559 GMT shares in Hyundai Motor were down 1.7% compared to the benchmark’s 0.5% increase.

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