Hyundai will invest $5 billion toward US manufacturing and innovation

I. Bonifacic@igorbonifacicMay 22nd, 2022In this write-up: news, gear, EV, transportation, Hyundai, GeorgiaHyundai

Hyundai will allocate an more $5 billion towards investments in the US, the automaker announced on Sunday. The money will assistance the company’s get the job done in electric autos, robotics, air taxis, self-driving vehicles and artificial intelligence. The announcement follows the the latest news that Hyundai plans to construct a $5.54 billion electric auto plant in Ga. With that facility bundled, the automaker intends to commit $10 billion in the US by 2025.

Some of the income will go toward supporting Boston Dynamics, which Hyundai obtained in 2021. The automaker said it is fully commited to developing the robotics agency by expanding its production abilities and item lineup. The company will also guidance Motional, its Boston-based self-driving unit, by functioning to make its driverless technology safer and additional available to clients in the US and other sections of the entire world.

“The shift supports carbon neutrality objectives with new systems and contributes to production in the US,” Hyundai stated in a assertion. According to the automaker, its new Georgia plant will deliver 300,000 EVs for each 12 months the moment output starts off sometime in the 1st 50 % of 2025. Construction on the facility will start out in early 2023.

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