INSUBCONTINENT EXCLUSIVE:
Hyundai Motor Group said on Sunday it would invest an additional $5 billion in the United States by 2025 to strengthen collaboration with
United States firms in advanced technology.The investments, announced during a visit to Seoul by President Joe Biden, are for robotics,
urban air mobility, autonomous driving and artificial intelligence, the group said.Hyundai Motor Group, which houses Hyundai Motor Co
(005380.KS) and Kia Corp (000270.KS), on Friday announced plans to invest $5.5 billion in Georgia to build electric vehicle (EV) and battery
facilities.The new investment brings its planned United States total through 2025 to about $10 billion, above the $7.4 billion it announced
last year.The world&s third-biggest automaker by vehicles sales did not say where in the United States the additional $5 billion would be
invested.Thanks to Hyundai, we are being part of this transformative automobile sector and accelerating us on a road where we&re going to be
handing to United States of all electric future,& Biden told a news conference.Standing next to him after a meeting, Hyundai Motor Group
executive chair Euisun Chung said, &I am confident that this new plant in Georgia will help us become a leader in the America automobile
industry with regards to building high quality electric vehicles for our United States customers.The auto group said on Wednesday it would
invest 21 trillion won ($16 billion) through 2030 to expand its EV business in South Korea.Hyundai&s new EV and battery manufacturing
facilities will be based in the southern &right to work& state, where labour unions are less prevalent and cannot require workers to
join.Biden, a Democrat, has described himself as the most pro-union president in history
But the deal, announced by Georgia&s Republican governor, showed the compromises the president may have to make as he woos investment
overseas.The post Hyundai Motor Group to invest more than $10 billion in United States up to 2025 first appeared on Ariana News.
