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Hyundai to invest $35 billion in mobility by 2025
- Wednesday | 16th October, 2019
SEOUL (Reuters) – Hyundai Motor Group said it plans to invest 41 trillion won ($35 billion) in mobility and other auto technologies by 2025, part of which will be directed to an ambitious effort to become more competitive in self-driving cars that has also received government backing. The government intends to spend 1.7 trillion won between 2021 and 2027 on self-driving technology. Other analysts noted that the prospects for self-driving cars are quite murky. South Korea’s government said it would prepare a regulatory and legal framework for autonomous cars and the safety questions they pose by 2024. Hyundai Motor’s executive vice chairman Euisun Chung said last month that the company is looking at developing flying cars.
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