16:57 - 11.04.2023

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April 11, Fineko/abc.az. South Korean conglomerate Hyundai Motor Group plans to invest $18.2 bn in the production of electric vehicles and related projects in South Korea, ABC.AZ reports with reference to automaker’s press service.

Three companies belonging to the conglomerate - Hyundai Motor Company, Kia Corporation and Hyundai Mobis - expect to jointly occupy the third place in the world on the production of electric vehicles by 2030 within this plan.

"Hyundai Motor, Kia and Hyundai Mobis will invest 24 trillion wons (about $18.2 bn) by 2030 in order to increase output and exports, as well as give impetus to production related to electric vehicles," Hyundai's press service said.