Hyundai is among the most ambitious traditional carmakers in adopting electromobility. The Korean company is already giving the chills to Ford, GM, and Volkswagen, with plans to sell 2 million EVs annually by 2030. Hyundai announced investments totaling $83 billion by 2032 to make that happen.
Hyundai sees a "seismic change" in the auto industry toward electric vehicles and announced massive investments to keep in the game for the long run. The Korean carmaker pledged about 109.4 trillion won ($85 billion) through 2032, with about a third of the funds (35.8 trillion won/$27.8 billion) dedicated to EV development and production. This includes 9.5 trillion won ($7.4 billion) for battery factory development.
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