Hyundai Motor Group said today that it will invest an extra $5 billion in the United States by 2025 to deepen advanced technology partnerships with American companies.
Hyundai Motor Group announced plans to invest $5.5 billion in Georgia to build electric vehicle (EV) and battery facilities. The investments, announced during a visit to Seoul by President Joe Biden, are for robotics, urban air mobility, autonomous driving, and artificial intelligence.
Hyundai Motor Group says it will invest an additional $5 billion in electric vehicle manufacturing in the United States.
The new investment brings its planned U.S. total through 2025 to about $10 billion, above the previous $7.4 billion announced last year.
President Joe Biden says the deal will lead to “handing to United States of all electric future”. Hyundai’s new EV and battery manufacturing facilities will be based in Georgia, where labour unions are less prevalent.
This report’s information was first seen on Reuters; to read more, click this link.