Hyundai Motor to invest over $10 billion in United States

Hyundai Motor said on Sunday it would invest another $5 billion in the United States by 2025 to strengthen collaboration with American companies.

The announcement was made during a visit to Seoul by President Joe Biden.

It concerns robotics, urban air mobility, autonomous driving, and artificial intelligence according to the automaker.

Hyundai Motor last week announced plans to invest $5.5 billion in Georgia to build electric vehicle (EV) and battery facilities.

The new investment for the US brings its planned investment total through 2025 to about $10 billion, above the $7.4 billion it said in 2021.

The automaker last week also said it would invest $16.5 billion through 2030 to expand its electric vehicle business in South Korea.