Hyundai Motor unleashes $52 billion in fresh investment as e-vehicle push

by   |  VIEW 542

Hyundai Motor unleashes $52 billion in fresh investment as e-vehicle push

On Wednesday, the 4th of December 2019, the Seoul-based South Korean multinational automotive industry Goliath, Hyundai Motor Company, commonly dubbed as Hyundai Motors, had issued a statement saying that the automotive industry giant with long-hailed subsidiaries such as Kia Motors, Hyundai Card Co.

Ltd., and Hyundai Capital, had been sketching out a plan to inject as much as $51.81 billion (61.1 trillion South Korean Won) into the company as fresh investments over the next five years, while one-third of its planned expenses would focus on developing self-driving technology and electric vehicles.

Nonetheless, since a number of analysts had downplayed the South Korean grief-sickened automaker’s ambitious plan to invest as much as $52 billion in to autonomous and e-vehicle R&D, South Korea’s KOSPI-listed shares of Hyundai Motors wrapped up the day 0.41 per cent higher to 1,22,000 South Korean Won on Wednesday’s (December 4th) amid an ongoing turbulence over the trade triangle beside the North Pacific.

Nonetheless, the South Korean carmaker had also announced a “Strategy 2025” roadmap in its Wednesday’s (December 4th) announcement under which the automaker was expecting to spend a whopping sum of 10 trillion won per year until 2025, while undermining impacts of Hyundai’s latest quote, an analyst at KTB Investment & Securities, Lee Han-Joon said on Wednesday (December 4th), “Its announcement of investment plan and goals is full of good words, but not real results yet. The plan itself also wasn’t an amazing one. ”