Hyundai Motor to Invest 60 tln Won by 2025 for EV Growth
Posted on
This undated photo provided by Hyundai Motor shows the carmaker’s EV concept 45 on display at the Frankfurt Motor Show.
SEOUL, Dec. 10 (Korea Bizwire) South Korea’s Hyundai Motor Co. said Thursday it will invest 60.1 trillion won (US$55.5 billion) by 2025 for future mobility to gain a bigger share in the rapidly evolving global automobile markets.
Hyundai Motor said it will strengthen its electrified vehicle lineup to compete with its rivals, such as General Motors Co. and Volkswagen Group, and achieve a market share of 8 to 10 percent of the global electric vehicle (EV) market by 2040.