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International Business Times
International Business Times
AFP News

Hyundai To Invest More Than $50 Bn In South Korea In Major EV Push

Hyundai South Korea Kia
South Korea's Hyundai is one of the world's biggest automakers (Credit: AFP)

Hyundai on Wednesday revealed plans to invest more than $50 billion in South Korea by 2026, with a huge chunk dedicated to boosting the development and production of electric vehicles.

Along with its affiliate Kia, Hyundai is the world's third-largest automaker by sales, but the South Korean giant lags in the EV sector behind Elon Musk's Tesla and Chinese firm BYD.

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