Hyundai to invest $12.3 billion in research, facilities for 2012

Article by Christian A., on December 29, 2011

Hyundai Motor Group will be investing $12.3 billion or 14.1 trillion won for 2012 on its major sectors research & development and facilities. This record-high budget is an increase of 15.6 percent from its investment this year. Specifically, 5.1 trillion won will be invested for R&D while 9 trillion won will be spent to develop its facilities.

Its R&D investment will be focused mostly on development of futuristic vehicles like electric cars and environmental-friendly hybrids. At least 80 percent will be shelled out at home under its business policy in order to increase the domestic demand.

Moreover, the Group intends to open around 7,500 jobs in 2012 -- comprising 6,500 employees and 1,000 internship workers. The company's spokespeople emphasize that the development of environmental-friendly vehicles will be the group's core investment goal.

After the sales of the K5 hybrid and the Sonata hybrid in 2011, the group is targeting to launch a range of hybrid models next year. The group intends to implement role-sharing strategies between Hyundai Motor and its affiliate Kia Motors in developing environmentally friendly vehicles.

Kia Motors will mainly focus on "electric drive vehicles," which utilize traction motors or electric motors for propulsion. On the other hand, Hyundai Motor will focus on developing models of "fuel cell vehicles" and "plug-in hybrids," which use rechargeable batteries.

Topics: hyundai, investment

If you liked the article, share on:

Pin It

Comments

Recommended

It’s quite safe to say that this generation marks the rise of the electric cars. For the past few years, automakers have been very busy trying to find the perfect...
by - March 28, 2017
Want to go for a sportier look, but don’t have enough cash to burn? Good news for future Ford Edge buyers, as the 2018 model year will have an optional...
by - March 28, 2017
Audi refreshes its portfolio as its go-faster division officially announces the release of six new RS models by the end of 2018. That’s quite a huge number of cars to...
by - March 28, 2017
Has Toyota started the production of a new electric supercharger? Well, a patent that was recently published indicated that they might have. And this electric supercharger looks more durable and...
by - March 27, 2017
The Tesla Model S has finally arrived in South Korean soil and is now available for test drive. But, there’s a catch. You’ll have to wait several months if you...
by - March 27, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries