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Hyundai Motor Company plans to invest $5 billion in the U.S. by 2025 to further advance mobility technologies in areas such as autonomous driving, robotics and AI, it said Sunday.
The investment comes in conjunction with the automaker’s recent announcement that it plans to spend $5.54 billion to build America’s first dedicated electric vehicle and battery manufacturing facility located outside Savannah, Georgia. The facility is expected to open in the first half of 2025 and is expected to produce 300,000 vehicles per year.
The new investment of approximately $10 billion will be used to achieve “Hyundai’s goal of providing sustainable smart mobility solutions,” the company said.
Hyundai aims to become one of the top three electric vehicle suppliers in the U.S. by 2026, and several global automakers are building new supply chains and production facilities in the U.S. to capitalize on benefits projected a decade ahead of exponential growth. One of them. category.
the company previously announced plans By 2030, it plans to sell 3.23 million fully electric vehicles per year worldwide.
It also aligns with the Biden administration’s push to force companies to build electric vehicle supply chains in the United States rather than abroad. The administration announced a $3.1 billion plan to increase domestic production of batteries earlier this month, following the president invoking the Defense Production Act in April to encourage domestic production of the minerals needed to make electric vehicle batteries. is. The White House has set a 50% EV sales rate by 2030.
Hyundai Motor Chairman Chung Eui-sun said the newly announced investment will strengthen partnerships that “support global carbon neutrality efforts while helping U.S. public and private companies provide innovative products and mobility solutions to our valued customers in the United States.” . , said in a statement.
This will include areas such as robotics, advanced air mobility, artificial intelligence and autonomous driving, the company said.
Hyundai Motor Company acquired an 80% stake in Boston Dynamics, a robot maker, from Softbank in December 2020. Boston Dynamics, previously funded by Google, began selling its first robots commercially in June 2020.
The automaker is also pushing driverless technology through Motional, a venture it founded with US-based mobile technology company Aptive. Motional is currently testing its robo-taxi service on US public roads and plans to begin offering commercial services in 2023.
November Hyundai Motor Company formed supernull, aims to develop a family of electric aircraft in the fast-growing advanced air mobility industry. The company said it plans to start its first commercial flights in 2028.