Jump to content

MyCarForum Logo
Search
Magnifying glass

SEARCH

0

Hyundai Motor Group to invest US$12.2 Billion in 2012

By SYF77 on 06 Jan 2012

Attached Image

Recently, I blogged about Audiís plan to invest a massive Ä 13 billion (US 16.8 billion) in new products and technologies, and in expanding its sites from 2012 through 2016. Hyundai Motor Group, the fifth largest automaker in the world, is even more aggressive as they announced an investment of US12.2 billion in 2012 alone into R&D and facilities improvement.

Attached Image

The company stated that almost US$4.4 billion are earmarked for its R&D department in order to accelerate the development of eco-friendly and fuel-efficient vehicles. Another US$2.6 billion will be invested in upgrading existing plants and constructing new factories in South Korea and overseas. The remaining funds will be invested in the rest of its global facilities and its local steel production operation. Both Hyundai and Kia are increasing their investment in 2012 by 15.6 percent as compared to the preceding year to meet the increased demand.

The owner of Hyundai and Kia brands announced in October 2011 that their sales target for 2012 was 7 million units, up from 6.5 million in 2011. They estimated that their growth in 2011 could have been even larger if it not been limited by their plantsí output, many of which are operating at or near their maximum capacity. Both Hyundai and Kia have achieved record sales in the North America market in the year that has just passed.

sales report, other news, america and 7 more...

Viewed: 919 times

Related Blog Posts
SYF77
Written by SYF77
I have been a car fanatic since 1989, when my father was changing our family car then to a Toyota Corolla 1.6 GL fitted with a Twin Cam 16 valve engine that was carburetor-fed, a big deal back in those days. The automobile technology and industry fascinates me and I hope to broadcast these interesting developments to everyone out there through this blog.



 
Car Makes

Please select a car make

Facebook Likes
   Featured Blog Post
Photo
“I, Halimah Yacob, having been elected as President of the Republic of Singapore, do solemnly swe...
POPULAR BLOG POSTS
Photo
The popular Toyota Harrier is about to get a refresh and images of the facelifted car has been le...
Photo
Etiqa Insurance launches reduce-premium usage-based car insurance ePROTECT sMiles that offers 50...
Photo
Even if you can afford the seven-figure asking price, you won't be able to get Koenigsegg...
Photo
Following his major accident on Saturday behind the wheel of a Rimac Concept_One, “The Grand Tour...
Photo
EA has just previewed its latest installment of the Need For Speed franchise and BMW's new M5...
   Lifestyle Articles