Xinhua :
South Korea’s biggest carmaker Hyundai Motor said Wednesday that it will invest around 51 billion US dollars in future mobility devices and services by 2025 as part of efforts to facilitate its transition into a smart mobility solution provider.
Hyundai said in a statement that over a six-year period from 2020 to 2025, it will invest 61.1 trillion won (51.2 billion US dollars), or roughly 10 trillion won (8.4 billion US dollars) per year, into research and development (R&D) and future core technologies.
“We want to offer smart mobility experiences that meet the shifting needs of our customers by leveraging advanced technology,” said Lee Won-hee, president of chief executive of Hyundai Motor.
“Transforming into a smart mobility solution provider with comprehensive mobility solutions that combine devices and services will be the centerpiece of Hyundai’s future strategy,” Lee said
Among the total, 41.1 trillion won (34.4 billion US dollars) will be allocated for product and capital expenditure to enhance competitiveness in existing businesses, while 20 trillion won (16.8 billion US dollars) will be dedicated to future technologies such as vehicle electrification, autonomous driving, artificial intelligence (AI), robotics, personal air vehicle (PAV) and new energy area. Hyundai unveiled the investment plan to speed up its transition into a smart mobility solution provider by combining future mobility devices and services to supply products optimised for its services as well as personalised services.
While bolstering profitability in its internal combustion engine (ICE) vehicles, Hyundai planned to address electrified vehicles by first targeting younger drivers and enterprise customers with affordable battery electric vehicles (BEVs) to achieve economies of scale.
The carmaker aimed to sell 670,000 electric vehicles annually, comprising 560,000 BEVs and 110,000 fuel-cell electric vehicles (FCEVs), by 2025, while electrifying most new models in key markets such as South Korea, China, the United States and Europe by 2030 and in emerging markets such as India and Brazil by 2035.
South Korea’s biggest carmaker Hyundai Motor said Wednesday that it will invest around 51 billion US dollars in future mobility devices and services by 2025 as part of efforts to facilitate its transition into a smart mobility solution provider.
Hyundai said in a statement that over a six-year period from 2020 to 2025, it will invest 61.1 trillion won (51.2 billion US dollars), or roughly 10 trillion won (8.4 billion US dollars) per year, into research and development (R&D) and future core technologies.
“We want to offer smart mobility experiences that meet the shifting needs of our customers by leveraging advanced technology,” said Lee Won-hee, president of chief executive of Hyundai Motor.
“Transforming into a smart mobility solution provider with comprehensive mobility solutions that combine devices and services will be the centerpiece of Hyundai’s future strategy,” Lee said
Among the total, 41.1 trillion won (34.4 billion US dollars) will be allocated for product and capital expenditure to enhance competitiveness in existing businesses, while 20 trillion won (16.8 billion US dollars) will be dedicated to future technologies such as vehicle electrification, autonomous driving, artificial intelligence (AI), robotics, personal air vehicle (PAV) and new energy area. Hyundai unveiled the investment plan to speed up its transition into a smart mobility solution provider by combining future mobility devices and services to supply products optimised for its services as well as personalised services.
While bolstering profitability in its internal combustion engine (ICE) vehicles, Hyundai planned to address electrified vehicles by first targeting younger drivers and enterprise customers with affordable battery electric vehicles (BEVs) to achieve economies of scale.
The carmaker aimed to sell 670,000 electric vehicles annually, comprising 560,000 BEVs and 110,000 fuel-cell electric vehicles (FCEVs), by 2025, while electrifying most new models in key markets such as South Korea, China, the United States and Europe by 2030 and in emerging markets such as India and Brazil by 2035.
