Hyundai Motor Group is making a massive investment in electrification to become a leader in the electric vehicle market. The company is investing over $16.6 billion USD in South Korea by 2025, focusing on research and development, manufacturing, and expanding its presence in key markets like the United States.
The world's third-largest automaker, Hyundai Motor Group, is investing over $16.6 billion USD in South Korea by 2025, aiming to become a leader in the electric vehicle industry. This unprecedented investment, a 19 percent increase from 2024, comes amidst a political crisis in South Korea marked by President Yoon Suk Yeol's impeachment in December 2024. To counter a 7.
5 percent drop in domestic sales, Hyundai plans to strengthen its focus on technological innovation and accelerate its transition to electrification. The investment will be split between research and development (R&D) and manufacturing. 11.5 trillion KRW ($7.9 billion USD) will be allocated to R&D, focusing on product competitiveness, electrification, software-defined vehicles (SDVs), and hydrogen technologies. Another 12 trillion KRW ($8.2 billion USD) will be used to increase EV production and modernize manufacturing facilities in Korea. Hyundai plans to open a factory dedicated to large electric SUVs in Ulsan in 2025, while Kia will start mass production of its PBV electric vans. Hyundai is also focusing on the US market, having recently inaugurated a $7.6 billion EV plant in Georgia. The first model produced there is the updated 2025 Ioniq 5, which boasts increased range, a modernized design, and compatibility with Tesla Superchargers thanks to the NACS port. In 2025, Hyundai will also begin production of the Ioniq 9, its first three-row electric SUV, targeted at the American and Korean markets and eligible for the $7,500 federal tax credit. Hyundai Motor Group aims to use these investments to increase its market share in the electric-vehicle sector, strengthen its competitiveness in SDVs and emerging technologies, and maintain stable growth despite global crises. These combined efforts position Hyundai as a key player in the transformation of the automotive industry
HYUNDAI ELECTRIC VEHICLES INVESTMENT SOUTH KOREA AUTOMOTIVE INDUSTRY ELECTRIFICATION SDVS INNOVATION
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