Hyundai will invest 46.3 billion euros in its new business model until 2025
Hyundai, the South Korean car manufacturer, has launched a multi-million dollar strategic plan. Will invest 46.3 billion euros until 2025 in new products, mobility, autonomous driving and electrification, among other areas.
Specifically, the firm will allocate 31,154 million euros to strengthen its current business lines and 15,160 million to future technologies. In addition, according to its plan ‘Strategy 2025’, Hyundai aims to achieve a 8% operating margin, compared to 2.5% in 2018, and to cover 5% of the world market for that year.
Thanks to the investments, The Asian car company also expects a positive impact on its results of 26,144 million euros over the next five years.
In the sales chapter, it aspires to reach 670,000 electric and fuel cell vehicles per year, being one of the three main electric manufacturers by 2025.
The company's new technology development plans are in line with the announcement made by the Government of South Korea, which has stated its intention to allocate 1.3 billion euros to the boost of automated mobility.
The forecast of the South Korean Government is that Hyundai launches a service in the country with autonomous cars for fleets in 2024 and in 2027 for the general public. Thus, the South Korean Executive is carrying out a feasibility study of autonomous driving in which it is analyzing both components, as well as systems and infrastructure.
It is also preparing a review of the legislation in the country in order to give 'green light' to this type of driverless mobility, in order to make this technology a reality by the year 2024.
The president and CEO of the company, Wonhee Lee, said that the "key" of the company's future plans is to focus on customers and offer them the "most desirable" products and services.
"The transformation into a provider of intelligent mobility solutions with a wide range of mobility solutions that combine devices and services will be the central axis of the future strategy of Hyundai," said the head of the company.