Hyundai Motor Group plans record domestic investment
South Korea's Hyundai Motor Group announced on Thursday (Jan. 9) its intention to increase domestic investment by 19%, reaching a record high of approximately US$16.7 billion this year. This decision aims to secure future growth amid ongoing economic and political uncertainties.
Hyundai Motor Group, which includes both Hyundai Motor and Kia Corp, currently ranks third in global vehicle sales, following industry giants Toyota Motor and Volkswagen. The investment is part of the group's strategy to strengthen its position in the competitive automotive market.
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