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Hyundai Motor Group’s Investment Plans for 2012
- Group to invest 14 trillion won, largest investment plan for Group
- Group to focus on R&D for future cars, secure competitiveness
Hyundai Motor Group, led by South Korea’s largest automaker Hyundai Motor Company, announced today that it would invest a total of 14.1 trillion won* in 2012 as part of the Group’s largest investment and employment plan ever, mainly to boost its R&D competitiveness.
(*Equivalent to about US$12.2 billion, based on Dec. 28 foreign exchange rates inSeoul)
Hyundai Motor Group will invest 5.1 trillion won in R&D (compared to 4.6 trillion won in 2011) and 9 trillion won in facilities (compared to 7.6 trillion won in 2011). The total investment amount will be a 15.6 percent increase from this year’s 12.2 trillion won.
Of the amount to be invested in R&D, 4.6 trillion won, or 90 percent, will be spent on the automobiles sector, to accelerate the development of eco-friendly and fuel-efficient vehicles.
Of the investments in facilities, about 3 trillion won will be spent upgrading and building domestic and overseas manufacturing plants for Hyundai Motor and Kia Motors Corp., as well as strengthening their sales and aftersales service networks. Some 2.2 trillion won will be spent by the Group’s steel-related affiliates.
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