Tech

Hyundai will invest $5 billion in U.S. manufacturing and innovation


Hyundai will allocate another $5 billion for investments in US, automaker on Sunday. The funds will support the company’s work in the areas of electric vehicles, robotics, , self-driving cars and artificial intelligence. This announcement comes after recent news that Hyundai plans to build a grown in Georgia. With this facility, the automaker plans to invest $10 billion in the US by 2025.

Some of the money will be used to support Boston Dynamics, which Hyundai . The automaker said it is committed to growing the robotics company by expanding its production capabilities and product lines. The company will also support Boston-based self-driving unit, by working to make its drone technology safer and more accessible to customers in the United States and other parts of the world.

“This move supports carbon neutrality goals with new technologies and contributes to manufacturing in the US,” Hyundai said in a statement. According to the automaker, its new Georgia plant will produce 300,000 EVs per year after starting production in the first half of 2025. Construction of the plant will begin in early 2023.

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