Hyundai Motor Group said it plans to invest 41 trillion won ($34.6 billion) in mobility and other auto technologies by 2025, part of which will be directed to an ambitious effort to become more competitive in self-driving cars that has also received government backing.
The plan, which Hyundai said encompasses autonomous, connected and electric vehicles as well as technology for ride-sharing, comes after the automaker and two of its affiliates announced an investment of $1.6 billion in a venture with U.S. self-driving tech firm Aptiv.
South Korea’s government is also on board, unveiling more funding for autonomous vehicle technology with President Moon Jae-in declaring on Tuesday that he expected self-driving cars to account for half of new cars on the country’s roads by 2030.
Moon Jae-in said Korean companies will invest 60 trillion won ($50 billion) over the next decade into the future of transportation.
https://www.autonews.com/mobility-report/hyundai-motor-group-plans-invest-346-billion-mobility-tech-2025
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