Paradigm Shift: Hyundai To Invest $40 BILLION In New Models Over Next 5 Years

Hyundai Motor Co. joined automakers pledging massive spending in the years ahead to address the industry's transformation and fend off new competition from the likes of Tesla Inc.

The South Korean maker of Sonata sedans and Tucson crossovers plans to invest 45.3 trillion won ($40 billion) in the next five years in development of new models and technologies for electrified and autonomous vehicles as well as transportation services. The average annual spending will be 58 percent more than over the past five years, the company said Wednesday in a statement.

skytop - 2/27/2019 12:39:53 PM

+1 Boost

Hyundai is biting the bullet which is a good thing.

It's global sales are in free fall and the company must take major proactive action to make its product far more desirable to the market.

dumpsty - 2/27/2019 12:45:15 PM

+4 Boost

So, they've decided to evolve the Kia lineup. But where does that leave Genesis? That brand needs at least 2-3 more vehicles (CUV's) in the lineup.

MDarringer - 2/27/2019 8:59:09 PM

-1 Boost

I wonder how much of that $40B will be spent on the acquisition of FCA.