Hyundai Motor Group Investing $73B by 2018

Hyundai Motor Group Investing $73B by 2018

The world’s fifth-largest automaker is preparing to make heavy investments over the next four years.

The Hyundai Motor Group has said that it will spend $73 billion by 2018 to expand capacity, build a new headquarters and develop new vehicles. The company will break down its investment with $44 billion on capital investment and $29 billion on research and development.

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The announcement comes as Hyundai and Kia prepare to build factories in Mexico and China and will focus on developing more eco-friendly vehicles and self-driving cars over the next four years. In a statement, the Korean automakers said that 75 percent of the investment will be made within South Korea to help re-energize the local economy.

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[Source: Automotive News]

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