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Hyundai to Invest $35 Billion on Advanced Mobility
Hyundai Motor Group plans to invest 41 trillion won ($34.6 billion) over the next six years to develop next-generation mobility technologies and services.
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Hyundai Motor Group plans to invest 41 trillion won ($34.6 billion) over the next six years to develop next-generation mobility technologies and services.
The plan includes autonomous, connected, electric and shared vehicle systems. Last month Hyundai formed a $1.6 billion joint venture with software developer Aptiv plc and said it planned to begin high-volume production of Level 4 driverless vehicles by 2024.
South Korea President Moon Jae-in says he expects self-driving cars will account for half of new cars on the country's roads by 2030. The government plans to spend 1.7 trillion won ($1.4 billion) between 2021 and 2027 to support such vehicles.
Hyundai and other Korean companies plan to invest a combined 60 trillion won ($50 billion) over the next decade into future mobility systems.
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