Hyundai Motor Co. (005380.SE) said Tuesday it will invest as much as $3.1 billion in its existing U.S. manufacturing facilities, and is considering a new plant in the world’s most profitable auto market that would help to create thousands of new jobs.
The South Korean automotive group, which includes affiliate Kia Motors Corp., said it will spend the money over the next five years on research and development of new technologies such as autonomous vehicles and on upgrading existing facilities.
“The U.S. market is crucial to our success as a global auto maker. We will continue to expand our presence in the key market. Our investment will also help the U.S. efforts to create more jobs,” Hyundai Motor President Chung Jin-haeng told a group of foreign media reporters. – READ MORE
GREAT AGAIN: Hyundai to invest $3.1 billion in U.S. plants
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