Hyundai Motor Group's Record Investment Amid Political and Economic Uncertainties
Hyundai Motor Group plans to boost domestic investment by 19% to a record 24.3 trillion won in 2023 to secure future growth amid global economic and political uncertainties. The group will focus on next-generation technology, electrification, and strategic investments, as it grapples with recession concerns and international tensions.

Hyundai Motor Group has announced a 19% increase in domestic investment, reaching a record high of 24.3 trillion won ($16.65 billion) this year. The South Korean automotive giant aims to secure future growth despite ongoing economic and political uncertainties across global markets.
The group's substantial investment includes 11.5 trillion won dedicated to research and development in next-generation products, including electrification and hydrogen-fueled vehicles. Additionally, Hyundai plans to spend 12 trillion won on standard investments such as production line adjustments for electric models, alongside 800 billion won allocated to strategic investments including autonomous driving technologies.
In a recent statement, Hyundai highlighted the critical need for stable investments in the face of recession and global conflicts. Meanwhile, shares in Hyundai and Kia have risen following the announcement, despite previous sales dips due to declining consumer sentiment amid domestic political turmoil.
(With inputs from agencies.)
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