Hyundai invests $ 17 billion in electric cars

Hyundai invests $ 17 billion in electric cars

December 4, 2019 0 By autotimesnews

The South Korean manufacturer plans to increase the pace of production of electrification and development and technology.

According to the press service of Hyundai, over the next five years, the company plans to invest about $ 51 billion in automobile production alone, which should improve the brand’s competitiveness. A third of this amount will be spent on the development, modernization and production of autonomous machines and cars with zero emissions of harmful substances.

In addition, by 2025, Hyundai expects to increase its operating profit ratio by 3 percent to 8%. The other day, our publication published spy photos of the upcoming Hyundai pickup. Recall that the truck was created based on the Santa Cruz concept car and will be produced at the American plant in Alabama.