Hyundai Motor Group announced a new investment plan at the groundbreaking ceremony of a new facility. Aiming to be one of the world's top 2030 manufacturers of electric cars by 3, Hyundai has allocated an additional budget of $18 billion for this purpose.
The group aims to increase annual EV production in Korea to 2030 million units by 1,51. zamAt the same time, it plans to increase the global volume to 3,64 million units. Taking concrete steps to realize all such plans and goals it has announced, Hyundai also supports new innovations that will develop the EV ecosystem and the global automotive industry. Supporting local manufacturers, R&D centers and EV-related industries, Hyundai will also significantly promote its supply chain.
As Hyundai builds new factories and plants for electric models, the same zamIt is also expanding lines at factories to increase the production capacity of existing EVs. The group will also invest heavily in R&D to develop platforms for next-generation EVs, enrich product lines, and offer more advanced technologies. It will also encourage the development of high-end technological equipment together with other partners in the sector. In addition to all these innovations, Hyundai; It will also increase integration across hardware and software, including the development of advanced technologies that will increase the range in electric vehicles. Hyundai Motor Group is also establishing a special fund to help increase the liquidity of suppliers. It also paves the way for electrification for internal combustion engine part suppliers who want to diversify their products in order to develop environmentally friendly vehicle parts.
The Group will also provide special consultancy services to suppliers who want to develop new business strategies for the future and explore new business lines. In addition, it will provide training support to the managers and employees of the companies to develop the mobility skills of the future.
Through these strategic investments, Hyundai Motor Group will drive the paradigm shift in the global mobility industry and help increase the competitiveness of the entire EV industry, particularly in Korea.