Hyundai raises its EV investment to USD 28 billion

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Hyundai raises its EV investment to USD 28 billion

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Hyundai Motor Group has raised its investment in electric vehicles (EVs) to $28 billion by 2030.

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The South Korean automaker plans to launch 17 new EVs by 2030, including 11 dedicated EVs.

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Hyundai will also reduce its operations in China, where it has been struggling to compete with local rivals.

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The company plans to close one of its plants in China and reduce its workforce by 30%.

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Hyundai's decision to invest more in EVs is in line with the global trend towards electrification.

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The EV market is expected to grow rapidly in the coming years, as governments around the world introduce stricter emission regulations.

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Hyundai is not the only automaker that is increasing its investment in EVs.

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Other major automakers, such as Volkswagen and General Motors, have also announced plans to invest billions of dollars in the EV market.

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The growing demand for EVs is a major opportunity for Hyundai, as it is well-positioned to compete in this market.

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VIVO v29 lite Specification: Amazing Detailed Review

VIVO v29 lite Specification: Amazing Detailed Review

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