Since the adoption of electric cars (EVs) has been growing recently, Hyundai Motors has unveiled plans to invest $ 5 billion in the United States.
It is understood that the investment was made to develop mobility technology in the field of autonomous driving (autopilot), robotics and artificial intelligence (AI).
In addition, Hyundai also stated its intention to invest $ 5.54 billion to build a facility in Savannah, Georgia specifically intended for EV production.
Enlightenment company has informed that Hyundai plans to produce 300,000 units of vehicles a year by 2025 and aims to become the 3rd largest EV manufacturer in the US by 2026.
It indirectly boosts the company’s previous plans to sell 3.23 million EVs worldwide by 2030.
This is also in line with the aspirations of the Joe Biden government which wants more companies to set up factories and make the U.S. the hub of EV supply worldwide, projecting U.S. EV sales of 50% by 2030.
Meanwhile, Hundai Motor Executive Chairman, Euisun Chung said the investment would further strengthen the good relations between the two countries in offering innovative products and supporting global carbon efforts.
On the other hand, Hyundai bought an 80% stake in robot manufacturing company, Boston Dynamics from Softbank in December 2020.
Boston Dynamics is a well-known robot manufacturing company that produces a dog-like robot, Spot, worth $ 1.1 billion.
In the autopilot effort, Hyundai has entered into a partnership with US technology company, Aptive in producing a driverless technology called ‘Motional’ which is expected to be commercialized by 2023.
