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Hyundai Motor Group to invest more than $10 billion in U.S. up to 2025

By Heekyong Yang SEOUL (Reuters) -Hyundai Motor Group said on Sunday it would invest an additional $5 billion in the United States by 2025 to strengthen collaboration with U.S....

By Heekyong Yang

SEOUL (Reuters) -Hyundai Motor Group said on Sunday it would invest an additional $5 billion in the United States by 2025 to strengthen collaboration with U.S. firms in advanced technology.

The investments, announced during a visit to Seoul by President Joe Biden, are for robotics, urban air mobility, autonomous driving and artificial intelligence, the group said.

Hyundai Motor Group, which houses Hyundai Motor Co and Kia Corp, on Friday announced plans to invest $5.5 billion in Georgia to build electric vehicle (EV) and battery facilities.

The new investment brings its planned U.S. total through 2025 to about $10 billion, above the $7.4 billion it announced last year.

The world's third-biggest automaker by vehicles sales did not say where in the United States the additional $5 billion would be invested.

"Thanks to Hyundai, we are being part of this transformative automobile sector and accelerating us on a road where we're going to be handing to United States of all electric future," Biden told a news conference.

Standing next to him after a meeting, Hyundai Motor Group executive chair Euisun Chung said, "I am confident that this new plant in Georgia will help us become a leader in the America automobile industry with regards to building high quality electric vehicles for our U.S. customers."

Hyundai's new EV and battery manufacturing facilities will be based in the southern “right to work” state, where labour unions are less prevalent and cannot require workers to join.

Biden, a Democrat, has described himself as the most pro-union president in history. But the deal, announced by Georgia's Republican governor, showed the compromises the president may have to make as he woos investment overseas.

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30-06-2022 19:49:46 (UTC+7)

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 EUR/USD1.0391↑ Sell
 GBP/USD1.2119↑ Sell
 USD/JPY136.07↑ Sell
 AUD/USD0.6891Sell
 USD/CAD1.2909Buy
 EUR/JPY141.40↑ Sell
 EUR/CHF0.9951↑ Sell
 Gold1,822.60↑ Buy
 Silver20.570↑ Buy
 Copper3.7107↑ Buy
 Crude Oil WTI109.41↑ Buy
 Brent Oil112.10↑ Buy
 Natural Gas6.434Neutral
 US Coffee C229.90↑ Buy
 Euro Stoxx 503,438.85↑ Buy
 S&P 5003,818.83↑ Buy
 DAX12,707.21↑ Buy
 FTSE 1007,171.22↑ Sell
 Hang Seng21,859.79Sell
 Small Cap 20001,719.37Neutral
 IBEX 358,044.66Buy
 BASF40.270↑ Buy
 Bayer56.69↑ Sell
 Allianz181.14↑ Sell
 Adidas167.93Sell
 Lufthansa5.495↑ Sell
 Siemens AG97.97Neutral
 Deutsche Bank AG8.273↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,810/ 6,870
(5/ 5) # 1,764
SJC HCM6,830/ 6,890
(10/ 0) # 1,783
SJC Hanoi6,830/ 6,892
(10/ 0) # 1,785
SJC Danang6,830/ 6,892
(10/ 0) # 1,785
SJC Nhatrang6,830/ 6,892
(10/ 0) # 1,785
SJC Cantho6,830/ 6,892
(10/ 0) # 1,785
Cập nhật 30-06-2022 19:49:48
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RON 95-V33.47034.130
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Ngoại tệMua vàoBán ra
USD23.105,0023.415,00
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GBP27.520,9428.694,87
JPY165,73175,46
KRW15,5118,90
Cập nhật lúc 18:51:16 30/06/2022
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