Hyundai Motor Group To Invest More Than $10 Billion In U.S. …

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(MENAFN- Pattern Information Company)

Hyundai Motor Group claimed on Sunday it would devote an extra&#13
$5 billion in the United States by 2025 to strengthen collaboration&#13
with U.S. firms in state-of-the-art know-how, Trend stories citing&#13
Reuters .

The investments, declared throughout a pay a visit to to Seoul by President&#13
Joe Biden, are for robotics, city air mobility, autonomous driving&#13
and synthetic intelligence, the group claimed.

Hyundai Motor Team, which properties Hyundai Motor Co (005380.KS)&#13
and Kia Corp (000270.KS), on Friday announced options to make investments $5.5&#13
billion in Ga to develop electric automobile (EV) and battery&#13
services.

The new financial investment brings its planned U.S. full by means of 2025 to&#13
about $10 billion, over the $7.4 billion it announced previous&#13
12 months.

The world’s third-most important automaker by autos income did not&#13
say exactly where in the United States the additional $5 billion would be&#13
invested.

‘Thanks to Hyundai, we are getting portion of this transformative&#13
vehicle sector and accelerating us on a highway exactly where we are going&#13
to be handing to United States of all electric powered potential,’ Biden explained to&#13
a news conference.

Standing following to him immediately after a meeting, Hyundai Motor Group&#13
government chair Euisun Chung mentioned, ‘I am self-confident that this new&#13
plant in Georgia will aid us become a leader in the America&#13
vehicle marketplace with regards to creating higher quality electrical&#13
vehicles for our U.S. buyers.’

The car group reported on Wednesday it would commit 21 trillion received&#13
($16 billion) as a result of 2030 to increase its EV business enterprise in South&#13
Korea.

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