Hyundai Motor Group (HMG), which also includes the Kia Corporation, is set to invest US$7.4bn (£5.2bn) in the development of future EVs, smart mobility solutions and to enhance its American production facilities.
Furthermore, HMG said its investment will prioritise future mobility technologies, including hydrogen energy.
José Muñoz, Hyundai Motor Company’s global chief operating officer of Hyundai Motor North America, said: “I am excited to make this announcement on behalf of the Hyundai Motor Group. This investment demonstrates our deep commitment to the U.S. market, our dealers and customers.
“Hyundai will lead the future of mobility in the United States and around the world. Our efforts are proof positive that Hyundai will continue to pursue excellence in our current and future product line-up.”
Both Hyundai and Kia said they will invest in growing its EV manufacturing footprint to scale production and satisfy U.S. market demands. HMG will offer a suite of American-made electric vehicles to U.S. consumers in 2022.
Later this year, HMG will proceed on a demonstration project in preparation for the commercialisation of hydrogen-fuel cell electric trucks. It will also work with local partners to conduct a hydrogen refuelling demonstration project for fuel cell electric trucks.
Additionally, the manufacture aims to provide logistics between port and inland warehouses by utilising fuel cell electric trucks.
The group will also further invest in robotics, urban air mobility and autonomous driving technology.
