Strategy 2025 is what Hyundai calls its new roadmap to the future and it comes with a $52 billion price tag. That is the amount the carmaker wants to invest over the next five years, with a third earmarked for electric and autonomous vehicles
SEOUL - Hyundai Motor plans to invest about 61.1 trillion won between 2020 and 2025, the company said on Wednesday, with a third of the expenditure focused on electric and autonomous vehicles, but analysts want to see it deliver.
Shares in Hyundai rose as much as 2% on the news, only to give up most of their gains by the close of trade, with analysts waiting to see how its intentions translate into action. South Korea’s top automaker is accelerating efforts to catch up in the race to bring self-driving cars to market. Ensuring survival is a key task as the auto industry’s shift towards zero-emission and self-driving technology requires massive investment at a time of profit pressured by slowing growth, Hyundai said in a presentation to investors.
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