Hyundai To Invest $10 Billion In U.S.

Hyundai To Invest $10 Billion In U.S.

Hyundai has unveiled plans to make a $10 billion-plus in the US towards electric vehicle manufacturing, robotics, advanced air mobility, AI and self-driving vehicles by 2025.

Hyundai To Invest $10 Billion In U.S.

The announcement follows US Head of state Joe Biden consulted with Hyundai's chairman, Euisun Chung, throughout his visit to Southern Korea. The financial investment consists of Hyundai's current announcement that it would certainly spend $5.54 billion right on new electrical vehicle and battery manufacturing centers in Georgia. The center is planned to open up at the beginning of 2025 and is expected to have a yearly manufacturing capacity of 300,000 vehicles.

Hyundai To Invest $10 Billion In U.S.

The new growth will implement Hyundai's advanced smart manufacturing technologies to enable a connected and automated manufacturing system. It will depend on renewable resource resources to power the center and use emission-reduction technologies.

Hyundai To Invest $10 Billion In U.S.

In its news release, Hyundai said that the enhanced financial investment will support the development of key future companies, consisting of robotics, AI technologies, advanced air movement (AAM), and self-governing driving capability. The car manufacturer plans to earn use of its 2020 purchase of robotics company Boston Characteristics to concentrate on progressing robotics through a variety of movement solutions.

Hyundai To Invest $10 Billion In U.S.

Supernal, a Washington D.C. centered AAM firm that Hyundai introduced in 2015, will use the financial investment to work on an application that will help passengers plan their trip, just like a rideshare system. This could consist of taking a car or rail from the home of an AAM "vertiport", riding the electrical air vehicle throughout the community, and after that taking an e-scooter for the last mile. This is targeted to introduce in 2028.

Hyundai To Invest $10 Billion In U.S.

In regards to AI technologies, Hyundai plans to increase spending and it's also proactively pursuing new business opportunities with local companions to expand business facilities and accomplish carbon neutrality. "We have come a long way and become very effective in a brief period, but we are also getting ready for our future," said Euisun Chung, exec chair of Hyundai Electric motor Team, following his meeting with Biden in Seoul.

Hyundai To Invest $10 Billion In U.S.

"The Team will enhance our collaboration with US public and private entities to offer innovative items and movement solutions to our valued customers in the US while sustaining global carbon neutrality initiatives," included Chung.