SEOUL, Jan 6 (AFP): South Korea's Hyundai announced Tuesday it plans to invest 80.7 trillion won ($73 billion) by 2018 in bolstering overseas production and developing next-generation cars.
The auto giant said it would over the next four years invest 49.1 trillion won on expanding corporate infrastructure and an additional 31.6 trillion won on research and development.
That means the firm-South Korea's top carmaker-would spend an average of 20.2 trillion won each year, more than the annual record of 14.9 trillion won last year.
Hyundai, along with its smaller subsidiary Kia, is the world's fifth-largest automanufacturer.
"By investing such a record amount, we are planning to focus on securing core technologies in environmentally-friendly cars, smart cars and other next-generation cars," Hyundai said in a statement.
Hyundai to invest $73b by 2018
FE Team | Published: January 07, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
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