ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Hyundai boosts investment in next-gen vehicles by 40%

$14bn earmarked for development of electric and fuel cell cars through 2025

Hyundai Motor CEO Lee Won-hee stressed the automaker's shift toward electric vehicles at the annual investor day event on Dec. 10.

SEOUL -- Hyundai Motor will increase spending by 40% on the development of electric and fuel cell vehicles over the next five years, the South Korean automaker said Thursday, updating a road map for its future businesses announced last year.

The company now plans to spend 14.9 trillion won ($13.7 billion) on electrification and hydrogen technologies, CEO Lee Won-hee said at an annual investor day event.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more