04.12.2019, 08:08
Hyundai Motor Will Invest $ 17 Billion in Electric Vehicle Production by 2025
Source: OREANDA-NEWS
OREANDA-NEWS. Hyundai Motor, the largest South Korean automaker in terms of sales, will invest 61 trillion won ($ 51 billion) in production development by 2025. This is stated in a statement released on Wednesday by company management.
The purpose of large-scale investments is to increase the competitiveness of existing businesses and create new opportunities through investments in future technologies. In particular, 20 trillion won ($ 17 billion) will be spent on the development, improvement and production of unmanned and electric vehicles. The company also notes that by 2025 it plans to increase its operating profit ratio from the current 5% to 8%.
South Korean company Hyundai Motor has become the world leader in car sales. St. Petersburg Hyundai plant has been operating since 2010, with a design production capacity of 200 thousand cars. It was previously reported that in 2019, the Russian car market took 12th place in terms of sales in the world. The leaders of the United States, China and Germany. Early Russia was in the top ten sales countries.
The purpose of large-scale investments is to increase the competitiveness of existing businesses and create new opportunities through investments in future technologies. In particular, 20 trillion won ($ 17 billion) will be spent on the development, improvement and production of unmanned and electric vehicles. The company also notes that by 2025 it plans to increase its operating profit ratio from the current 5% to 8%.
South Korean company Hyundai Motor has become the world leader in car sales. St. Petersburg Hyundai plant has been operating since 2010, with a design production capacity of 200 thousand cars. It was previously reported that in 2019, the Russian car market took 12th place in terms of sales in the world. The leaders of the United States, China and Germany. Early Russia was in the top ten sales countries.
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