Hyundai invests a large sum in development and research until 2025

Hyundai invests a large sum in development and research until 2025

December 6, 2019 0 By autotimesnews

The purpose of the investment will be the development of electric cars and the most modern unmanned vehicles.

Korean auto giant Hyundai Motors is set to invest 61.1 trillion won ($ 52 billion) in new research and development by 2025. At the same time, a large sum ($ 34 billion) will be used to modernize production and increase the competitiveness of their machines in the world market, and $ 16 billion will be invested in the latest developments, in particular in electric vehicles and drones. The goal of this strategy is to become one of the largest suppliers of electric cars to leading world markets, such as China, the USA, Europe and Korea, by 2030.

And by 2035, the company plans to supply the most advanced technology to the emerging markets of Brazil and India. By 2025, Hyundai plans to launch production of 670 thousand electric cars per year.

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┬áThe affairs of the Korean company in 2019 are going well – in the period from January to the end of November, more than 4 million cars with the Hyundai logo were sold worldwide. This result is 3.6% lower than last year for the same period. This is explained by the fact that the two largest car markets – China and the USA – are in a significant “minus”. In the home market, Hyundai sales grew 2.9%.