Hyundai will allocate a further $5 billion towards investments within the US, the automaker introduced on Sunday. The funds will help the corporate’s work in electrical automobiles, robotics, air taxis, self-driving vehicles and synthetic intelligence. The announcement follows the latest information that Hyundai plans to construct a $5.54 billion electrical car plant in Georgia. With that facility included, the automaker intends to speculate $10 billion within the US by 2025.
Some of the cash will go towards supporting Boston Dynamics, which Hyundai acquired in 2021. The automaker mentioned it’s dedicated to rising the robotics agency by increasing its manufacturing capabilities and product lineup. The firm will even help Motional, its Boston-based self-driving unit, by working to make its driverless expertise safer and extra accessible to prospects within the US and different components of the world.
“The move supports carbon neutrality goals with new technologies and contributes to manufacturing in the US,” Hyundai mentioned in a press release. According to the automaker, its new Georgia plant will produce 300,000 EVs per yr as soon as manufacturing begins someday within the first half of 2025. Construction on the ability will start in early 2023.