Hyundai Motor Group Investing $73B by 2018

The world’s fifth-largest automaker is preparing to make heavy investments over the next four years.

The Hyundai Motor Group has said that it will spend $73 billion by 2018 to expand capacity, build a new headquarters and develop new vehicles. The company will break down its investment with $44 billion on capital investment and $29 billion on research and development.

SEE ALSO: Hyundai Previews its High-Tech Future

The announcement comes as Hyundai and Kia prepare to build factories in Mexico and China and will focus on developing more eco-friendly vehicles and self-driving cars over the next four years. In a statement, the Korean automakers said that 75 percent of the investment will be made within South Korea to help re-energize the local economy.

GALLERY: 2015 Hyundai Sonata

[Source: Automotive News]

Discuss this story at our Hyundai forum