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SEOUL, Could 18 (Reuters) – Hyundai Motor Group said on Wednesday it programs to make investments a overall of 21 trillion gained ($16.54 billion) by means of 2030 for the expansion of its electric auto (EV) organization in South Korea.
The South Korean auto group, which properties Hyundai Motor Co (005380.KS) and Kia Corp (000270.KS), designs to annually construct 1.44 million models of EVs in South Korea by 2030.
The 1.44 million models of EV generation quantity in South Korea would account for about 45% of a mixed world-wide EV production potential of 3.23 million EV models in 2030, the automobile team reported in a assertion.
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Reuters noted very last 7 days that Hyundai designs to make a new EV producing plant in the U.S. point out of Georgia. read far more
The Atlanta Journal-Constitution described the South Korean business would devote $7.5 billion in Ga and retain the services of 8,500 people as section of its programs to construct a new manufacturing unit.
Very last calendar year, Hyundai Motor Team said it designs to commit $7.4 billion in the United States by 2025 to create EVs, update manufacturing services and further its financial investment in good mobility answers – technological know-how to increase different modes of transportation in metropolitan areas.
($1 = 1,269.6400 received)
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Reporting by Heekyong Yang Modifying by Jacqueline Wong and Kenneth Maxwell
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