Hyundai Motor Group’s announcement of a staggering 68 trillion won ($51 billion) investment over the next three years marks a significant commitment to strengthening its foothold in the electric vehicle (EV) market and expanding its presence in the new mobility sector. With a keen focus on innovation and sustainability, the conglomerate aims to capitalize on emerging trends and propel its growth trajectory forward.
Of the total investment, more than half, approximately 35.5 trillion won, will be channeled towards the development of cutting-edge research and development infrastructure and the establishment of state-of-the-art assembly lines dedicated to electric vehicles. This substantial allocation underscores Hyundai Motor Group’s dedication to advancing EV technology and expanding its EV portfolio to meet evolving consumer demands.
In addition, the conglomerate has earmarked 31.1 trillion won for research and development initiatives focused specifically on electric vehicles, with a particular emphasis on software-defined vehicles (SDVs) and battery technology. By investing heavily in these areas, Hyundai Motor Group aims to drive innovation and stay at the forefront of technological advancements in the automotive industry, positioning itself as a leader in the global EV market.
Furthermore, Hyundai Motor Group plans to hire 80,000 new employees over the next few years, with a significant portion of these hires—approximately 44,000—dedicated to roles that will support the group’s future-focused initiatives in electrification, SDVs, and carbon neutrality. This strategic expansion of its workforce underscores the conglomerate’s commitment to building a talented and diverse team capable of driving its ambitious growth agenda forward.
Hyundai Motor Group encompasses a diverse portfolio of companies, including flagship brands Hyundai Motor and Kia, renowned for their innovative vehicle designs and advanced technologies. Additionally, the conglomerate includes Hyundai Mobis, a leading automotive parts manufacturer, and Hyundai Engineering & Construction, further expanding its presence across various sectors and reinforcing its status as a global industry leader.
With its substantial investment and strategic hiring initiatives, Hyundai Motor Group is well-positioned to capitalize on emerging opportunities in the electric vehicle and new mobility markets, driving innovation, sustainability, and economic growth in the automotive industry and beyond.