Hyundai Motor Group to invest $18 billion in South Korean EV industry by 2030

and Hyundai Mobis, came as President Yoon Suk Yeol attended a groundbreaking ceremony for Kia's first designated electric vehicle plant.The new plant, the auto group's first in the country in almost three decades, is set to begin production in 2025.

Kia said in a statement that it would invest about 1 trillion won for the plant and plans to produce 150,000 units in the first full year, with the potential to expand in line with future market conditions. It added that the government would expand tax benefits for domestic EV facility investment for a five-fold boost in production capacity by 2030.

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Hyundai Motor Group to invest $18 bln in South Korean EV industry by 2030Hyundai Motor Group said on Tuesday it planned to invest 24 trillion won ($18.14 billion) in South Korea's electric vehicle (EV) industry through 2030, bolstering its presence in a segment that is set to dominate long-term global automotive demand. Hyundai is junk. Paint peels and uses excessive oil. Look it up. Know issues they won't fix. More cart before the horse logic. There goes US manufacturing
Source: Reuters - 🏆 2. / 97 Read more »