VIAC

ViacomCBS Inc.

29.58
USD
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29.58
USD
-17.81%
27.84 101.97
52 weeks
52 weeks

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Hyundai Motor To Invest More Than $10 Bln In US By 2025

(RTTNews) - Hyundai Motor Group Sunday reaffirmed its commitment to expanding investment in the U.S. to further its goal to provide sustainable and smart mobility solutions to its U.S. It plans to invest more than $10 billion in US by 2025 to secure future growth. The company's investment will support development of key future businesses, including robotics, AI technologies, advanced air mobility and autonomous driving capability. On Friday, Hyundai Motor Group disclosed a $5.54-BILLION plan to establish EV and battery manufacturing facilities in the State of Georgia to build a wide range of new and innovative full electric vehicles for its valued U.S. customers. The new facility, located on a 2,923-acre site in Bryan County, Georgia, will break ground in early 2023 and is expected to begin commercial production in the first half of 2025 with an annual capacity of 300,000 units. The new facility will help Hyundai Motor lead the U.S. auto market's EV transition and the Group's roadmap to be one of top three EV providers in the U.S. by 2026, the company said in a statement. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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