Hyundai to lift auto operating margin to 7 percent by 2022

Hyundai Motor stated on Wednesday it prepares to increase the core automotive businesses’ operating profit margin to 7 percent by 2022, compared with 2.1 percent in last year, as part of its mid- to long-term plan.

The automaker stated it also prepares to invest 45.3 trillion won ($40.48 billion) during the next five years in research and development, capital expenditure and future development areas such as autonomous driving technologies, auto electrification and mobility services.