Hyundai has decided today how it will cost more than $ 10 billion, with plans to become a dynamic leader in the United States. The automaker wants to invest in EVs, autonomous technology, robotics and air travel to secure its future growth.
The biggest component of the plan is the $ 5.54 billion plant that will facilitate the creation of the first dedicated EV battery in the state of Georgia. In this, Hyundai Motor Group will produce more than 300,000 units per year from 2025.
Also, Hyundai said it has allocated funds for other investments in areas that are critical to future success. These strategic investments will allow it to offer a variety of dynamic products and services for greater security and convenience.
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The growth of Boston Dynamics will be a key component of its plan as it is expected to accelerate mass production of future products. This will allow it to enhance its robotic product lineup and offer a range of mobility solutions based on the technology of the wholly owned company.
Hyundai Motor Group also said it would invest more in autonomous driving. It has already founded Motional, a joint venture with Aptiv that is testing robotics on US roads. The automaker says, however, that it will work with other American partners to accelerate efforts to bring driverless technology to the public.
It seeks to intensify competition from more US partners in the field of artificial intelligence. With more money dedicated to AI, it hopes to expand its business infrastructure, achieve carbon neutrality and apply technology throughout its business.
Ultimately, it will also continue to work to make improved air mobility a reality. Together with his company Supernal, Hyundai Motor Group aims to make autonomous passenger drones practical in the near future. It also works on an app that will plan a complete route for you, take you to a port and your final destination.
“We have come a long way and have been very successful in a short time, but we are also preparing for our future,” said Yusun Chung, executive chairman of Hyundai Motor Group, after his meeting with US President Joe Biden in Seoul. “The Group will strengthen our partnerships with US government and non-government organizations to support innovative product and mobility solutions to our valued customers in the United States while supporting global carbon neutrality efforts.”