Hyundai to Invest Over $10 billion in US By 2025
Hyundai Motor Group (HMG) reaffirmed its commitment to expand investment in the US to further its goal of providing sustainable and smart mobility solutions.
HMG’s s plans, which involve an investment of more than US$10 billion, are designed to accelerate innovation and mobility electrification.
As one of the global leaders in innovation, HMG has allocated a series of additional expenditure to foster key future businesses such as robotics, advanced air mobility (AAM), autonomous driving, and artificial intelligence (AI). The investment will enable HMG to offer diverse mobility products and services with greater safety and convenience.
Robotics is an essential part of the Group’s transformation into a smart mobility solutions provider. Having acquired Boston Dynamics, HMG has sharpened its focus on advancing robotics to enhance people’s lives through a range of mobility solutions. The Group is committed to the growth of Boston Dynamics by expediting mass production of future products, enhancing its product lineup and strengthening its competitiveness.
HMG is also pioneering driverless technologies and responding to a rapid paradigm shift in the automotive industry through Motional, a joint venture with leading US mobility technology firm Aptiv in 2020. Motional is currently testing its robotaxi service on US public roads with an aim to commence commercial service in 2023.
The Group will actively support Motional to make the driverless technology more safe, reliable, and accessible to customers in the US and in other parts of the world. HMG will cooperate with US partners in areas to accelerate the efforts to make driverless technology a reality.
To expand its portfolio of mobility solutions, HMG is also developing the technologies and infrastructure in the advanced air mobility (AAM). The Group launched Washington DC-based Supernal last year to strengthen its AAM capabilities. Supernal is working to integrate AAM into existing transit networks and offer a seamless intermodal passenger experience.
The vision is for passengers to use a single app, that function like current rideshare platforms to plan their journey, which could include taking a car or rail from home to an AAM “vertiport,” riding an eVTOL across town, and then using an e-scooter for the last mile.
With the target of beginning commercial service in 2028, Supernal is collaborating with stakeholders to explore physical and digital infrastructure concepts and secure the right ecosystem for the AAM industry to develop.
In order to advance all future businesses and strengthen competitiveness in diverse areas within the Group, HMG plans to increase investment into AI technologies while it also actively pursues new business opportunities with local partners to broaden business infrastructure and achieve carbon neutrality.
In addition to its future business plans, HMG will maintain consistent levels of investment in R&D to continue offering exciting and innovative vehicles from its Hyundai, Kia, and Genesis brands, as well as into expanding and upgrading existing facilities in the US.