Hyundai to Invest $50 Billion in South Korea by 2026. South Korean giant is lagging behind in the electric vehicle sector.
Hyundai aims to enter the world's top three in electric vehicles. It announced last year its goal to increase annual production in this sector to over 3.6 million units by 2030. The group's electric vehicle strategy also includes investments in infrastructure, software, battery technology and autonomous driving. The new investment of 68 trillion won (50.5 billion dollars) is expected to create 80,000 jobs.