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.
$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.