Hyundai plans a $50.5B investment in South Korea by 2026, focusing on EV development and production, aiming to create 80,000 jobs and increase annual EV production to 1.

Hyundai plans to invest $50.5 billion (68 trillion won) in South Korea by 2026, focusing on electric vehicle (EV) development and production to secure future growth and break into the global top three of EV manufacturers. This investment aims to create 80,000 jobs, build three new EV factories, and increase annual EV production in South Korea to 1.51 million units by 2030. The company's EV strategy also covers investments in infrastructure, software, battery technology, and autonomous driving.

March 27, 2024
22 Articles

Further Reading