Shulou(Shulou.com)11/24 Report--

CTOnews.com June 20, South Korea's Hyundai Motor announced today that it plans to invest about 109.4 trillion won (CTOnews.com Note: currently about 610.452 billion yuan) in automobile research and development by 2032, of which about 35.8 trillion won (currently about 199.764 billion yuan) will be spent on pure electric vehicles (EV).

Hyundai plans to increase its local production of electric vehicles in the United States from 0.7% to 75% by 2030, Hyundai said in a statement on the company's Investor Day. The United States is currently the largest sales market for modern electric vehicles.

In terms of sales targets, Hyundai says it hopes to sell 2 million electric vehicles a year by 2030 and plans to achieve a profit margin of more than 10 per cent in the same year.

CTOnews.com previously reported that the 2022 model of the IONIQ 5 electric SUV, the first production model of Hyundai's exclusive electric vehicle brand IONIQ, had previously been exposed as a lack of power in the United States. the company has acknowledged the problem and said it will push software updates next month and replace parts for car owners if necessary.

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