Hyundai Motor to invest $18B in South Korea’s EVs by 2030

Hyundai Motor Group will invest 24 trillion won (~$18 billion) in South Korea’s electric vehicle industry through 2030, the company said Tuesday.
The news comes a week after Kia, which falls under the Hyundai umbrella, announced its own 32 trillion won (~$24 billion) investment into electrification and future business areas. Hyundai’s investment plan was revealed during a groundbreaking ceremony for Kia’s first designated EV plant.
Hyundai’s auto group, which also includes Hyundai and luxury brand Genesis, said Tuesday it plans to expand annual EV production in Korea to

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