Hyundai invests $50 billion for electric car production in South Korea. The objective for Hyundai is to increase its annual production of electric cars to more than three and a half million units by 2030.
Investments are also planned in infrastructure, software, battery technology, and autonomous driving. With its subsidiary Kia, Hyundai is the third largest manufacturer in the world in terms of sales, but the giant is lagging behind in the electric sector. Faced with this tough competition, the South Korean group is investing heavily in the future, particularly in flying electric cars.