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Business > Foreign Business
Hyundai to invest more than $50B in SKorea
By Agence France-Presse
Mar 28, 2024 12:11 am

SEOUL: Hyundai on Wednesday revealed plans to invest more than $50 billion in South Korea by 2026, with a huge chunk dedicated to boosting the development and production of electric vehicles (EVs).

Along with its affiliate Kia, Hyundai is the world's third-largest automaker by sales, but the South Korean giant lags in the EV sector behind Elon Musk's Tesla and Chinese firm BYD.

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