SEOUL, May 22 (Reuters) – Hyundai Motor Group said on Sunday it will invest an additional $5 billion (4.7 billion euros) in the United States by 2025 to strengthen collaboration with American companies in the field of advanced technologies.
The investments, announced during a visit by US President Joe Biden to Seoul, relate to robotics, urban air mobility, autonomous driving and artificial intelligence, the group said.
Hyundai Motor Group, which includes Hyundai Motor Co
005380.KS and Kia Corp 000270.KS on Friday announced plans to invest $5.5 billion in the US state of Georgia to build electric vehicle (EV) and battery factories.
This new investment brings the total amount of investments planned by the group in the United States until 2025 to around 10 billion dollars, more than the 7.4 billion dollars announced last year.
(Report Trevor Hunnicutt, Heekyong Yang and Jack Kim; French version Camille Raynaud)