Hyundai today laid out how it expects to become a mobility leader in the U.S. with a plan it says will cost it more than $10 billion. The automaker intends to invest in EVs, autonomous technology, robotics, and air travel in order to secure its future growth.
The plan’s biggest component is a $5.54 billion plant that will become the first dedicated EV battery manufacturing facility in the state of Georgia. At it, the Hyundai Motor Group will build more than 300,000 units per year, starting in 2025.
In addition, Hyundai says it has also allocated money for other investments in areas that are important to its future success. These strategic investments will allow it to offer diverse mobility products and services for greater safety and convenience.
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The growth of Boston Dynamics will be a key element of its plan as it hopes to expedite the mass production of future products. That will allow it to enhance its lineup of robotic products and offer a range of mobility solutions based on the wholly-owned company’s technology.
The Hyundai Motor Group has also said that it will invest further in the field of autonomous driving. It has already established Motional, a joint venture created with Aptiv that is testing robotaxis on U.S. roads. The automaker says, though, that will cooperate with other American partners to accelerate its efforts to bring driverless technology to the public.
It is also seeking more U.S. partners in the field of artificial intelligence in order to strengthen its competitiveness. With more money dedicated to AI, it hopes to broaden its business infrastructure, achieve carbon neutrality, and apply the technology throughout its business.
Finally, it will also continue to work on making advanced air mobility a reality. With its company Supernal, the Hyundai Motor Group aims to make autonomous passenger drones practical in the near future. It is also working on an app that will plan an entire route for you, getting you to a vertiport and to your final destination.
“We have come a long way and become very successful in a short period of time, but we are also preparing for our future,” said Euisun Chung, Executive Chair of Hyundai Motor Group, following his meeting with U.S. President Joe Biden in Seoul. “The Group will strengthen our partnership with U.S. public and private entities to offer innovative products and mobility solutions to our valued customers in the U.S. while supporting global carbon neutrality efforts.”
