Hyundai Motor to invest $7.4 billion in the U.S. by 2025

FILE PHOTO: A shop sign of Hyundai is seen outside a car showroom in Bletchley, Milton Keynes, Britain, May 31, 2020. REUTERS/Andrew Boyers/File Photo

(Reuters) -South Korea’s Hyundai Motor Group said on Thursday it planned to invest $7.4 billion in the United States by 2025 to produce electric vehicles, enhance production facilities and develop smart mobility solutions.

The company said it will offer a suite of U.S.-made electric vehicles to consumers in the country starting next year as part of its plan that also includes tapping into hydrogen energy as a mobility technology. (prn.to/33E6qMm)

Hyundai is also investing in robotics, urban air mobility and autonomous driving technology, the company said.

Source: Read Full Article