Hyundai Motor Company Unveil $8.5 Billion Spending Plan

[Vernon]

Details from an exchange filing on Thursday, January 26, 2023 show that Hyundai Motor Co. is planning to spend 10.5 trillion won ($8.5 billion) this year in an attempt to electrify more of its fleet to satiate growing cleaner car demands from consumers. A detailed analysis of the Seoul-based company’s spending plan shows that the … (read full article...)

 

[Voltaiz]

Hyundai Motor will invest USD 8.5 billion won over the course of 2023 as it moves to electrify more of its fleet to the rising consumer demand for cleaner cars. The South Korean automaker is also targeting revenue growth of as much as 11.5% this year after posting fourth-quarter earnings that beat analyst estimates. In 2023, Hyundai also plans to boost sales in the US by selling cars via a leasing program, allowed under the latest iteration of the IRA.

 

[Amperix]

All the three brands of Hyundai together are targeting to sell more than double the units of EV sold in 2022 in the US alone.